Vertical Research upgraded Veralto to Buy from Hold with an $82 price target. The analyst believes Veralto’s gross margins in the mid-high 50%s and recurring revenues that are approaching 60% “will support a structurally high relative valuation.” The firm says the shares “are now in a more appropriate place” given uncertainties about end markets and the pace of capital deployment.
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Read More on VLTO:
- Veralto initiated with a Neutral at Citi
- Danaher price target lowered to $247 from $285 at Wells Fargo
- Veralto initiated with a Buy at Melius Research
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