Veralto price target lowered to $117 from $119 at Stifel

Stifel analyst Nathan Jones lowered the firm’s price target on Veralto (VLTO) to $117 from $119 and keeps a Buy rating on the shares. Global industrial stocks having materially outperformed the growth in earnings with 2024 EPS growth of 10% for the group, notes the analyst, who has “concerns in several areas,” but is “relatively bullish that growth will be similar in 2025.” However, the firm thinks stocks in the group “may have overshot the mark in the short term,” the analyst added.