Danaher price target lowered to $260 from $300 at Argus

Argus lowered the firm’s price target on Danaher (DHR) to $260 from $300 and keeps a Buy rating on the shares after its Q4 earnings miss. The company has strengthened its ability to serve customers in the biotech, life sciences, and diagnostics industries thanks to its M&A and internal investments, and despite near-term headwinds, Danaher management remains upbeat about its long-term opportunities to support the development of breakthrough biologic therapeutics, such as monoclonal antibodies, the analyst tells investors in a research note. Danaher’s near-term headwinds include ongoing market weakness in China and a mild winter flu season, Argus added, also citing the volatility of interest rates and their effect on equity valuations.