RBC Capital initiated coverage of Veralto (VLTO) with a Sector Perform rating and $78 price target. The “highly-anticipated” Danaher (DHR) spinout has 23% EBITDA margins, 57% razor/razor blade recurring revenues and “also ranks as an elite Prime according to our Investment Framework,” the analyst tells investors. However, Veralto is “the opposite of a fixer-upper” with little self-help prospects and needs M&A to bolster growth, but the firm sees “no obvious takeout candidates,” the analyst added.
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Read More on VLTO:
- Veralto price target lowered to $79 from $82 at Baird
- Veralto Reports Third Quarter 2023 Results
- Veralto to initiate 9c per share dividend
- Veralto sees Q4 EPS 79c-84c, consensus 76c
- Veralto reports Q3 EPS 75c, consensus 70c
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