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BTIG Initiates Coverage On Danaher Corporation

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Courtesy of Benzinga.

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BTIG initiated its “top large-cap investment idea” and rated Danaher Corporation (NYSE: DHR) a Buy with a $95 price target.

Analyst Dane Leone claimed that "Danaher is a well?run company with a culture focused on driving shareholders returns." While the stock has recently underperformed, he thinks things are about to change with "additional M&A announcements" and a December analyst day that will "help buoy the share price heading into 2015."

Leone felt the stock is -7 percent undervalued compared to peer companies.

In addition to being undervalued, Leone reported that concerns "regarding capital deployment is overdone, and M&A could become a positive catalyst in 2015, DHR management has indicated that the company" has over $8 billion in M&A capacity.

The $95 target price "assigns a Fair Value multiple of ~12x EV to our 2016 EBITDA estimate, or ~1.4x on an 2016 EBITDA? to?Growth ratio basis (EBITDAg)."

Danaher Corporation closed at $74.43 on Thursday, down 0.20 percent.

Latest Ratings for DHR

Date Firm Action From To
Oct 2014 BTIG Research Initiates Coverage on Buy
Jul 2014 Barclays Maintains Overweight
Apr 2014 ISI Group Upgrades Buy Strong Buy

View More Analyst Ratings for DHR
View the Latest Analyst Ratings

Posted-In: BTIG Research Dane LeoneAnalyst Color Price Target Initiation Analyst Ratings

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