Barclays upgraded Danaher (DHR) to Overweight from Equal Weight with a price target of $205, down from $240. The firm cites its defensive positioning in bioprocessing and the recent pullback in the shares for the upgrade. Danaher’s valuation is still expensive, but not as offensive as it was six months ago for the growth expected, the analyst tells investors in a research note. Barclays thinks Danaher’s diagnostics stability and the bioprocessing momentum is enough to offset any life science weakness.
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