Citi views Danaher acquisition of Abcam favorably

Citi analyst Patrick Donnelly views Danaher’s (DHR) acquisition of Abcam (ABCM) favorably, saying the deal allows the company to enter into the high-growth, higher margin protein consumables market. By the expected deal close, Danaher should be at one-times net leverage, well below the requirements of maintaining an investment grade rating, the analyst tells investors in a research note. The firm affirms a Buy rating on the shares with a $300 price target.