Analyst Puneet Souda from Leerink Partners maintained a Buy rating on Waters (WAT – Research Report) and increased the price target to $450.00 from $400.00.
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Puneet Souda has given his Buy rating due to a combination of factors that highlight Waters’ strong market position and growth potential. The company has shown impressive performance, particularly in its instrument replacement cycle, which has been a significant driver of its recent success. Additionally, Waters is benefiting from unique market drivers such as GLP-1s, PFAS testing, and the generics market in India, which have contributed to its robust financial results.
Despite some concerns about potential tariff impacts and weaker recurring revenue due to fewer selling days, management remains confident in the company’s growth trajectory. Waters’ strategic initiatives, including tariff mitigation and expansion of the Wyatt’s MALS platform, are expected to support continued growth. The company’s differentiated position in quality assurance and quality control, along with its alignment with key secular trends, further solidifies its potential for future success. As a result, Souda has raised the price target to $450, reflecting his optimistic outlook on the stock.
In another report released yesterday, Robert W. Baird also maintained a Buy rating on the stock with a $374.00 price target.