Waters price target raised to $360 from $332 at Stifel

Stifel analyst Daniel Arias raised the firm’s price target on Waters (WAT) to $360 from $332 and keeps a Hold rating on the shares. Q3 was “strong,” and characterized by trends and commentary that stand out meaningfully from Tools peers in its positivity related to instrument demand, but there may still be some lingering doubt when it comes to Q4, the analyst tells investors. The question now becomes the extent to which upside scenarios on 2025 can materialize and getting to an 2025 EPS number that brings an implied multiple “back towards a more approachable level (i.e. high 20s) seems like a bit of a stretch right now,” the analyst added.