Veralto initiated with a Market Perform at Raymond James

Raymond James analyst Bobby Zolper initiated coverage of Veralto (VLTO) with a Market Perform rating and no price target The firm views Veralto’s portfolio of businesses as “high-quality,” but also “fully valued” on an absolute basis and based on the sum-of-the-parts value, the analyst tells investors. With limited visibility around the incremental returns on capital achieved in the “strategic transactions” desired by management, the firm cannot definitively state that outcomes realized by shareholders purchasing today are “likely to be materially better than those produced by the other Danaher-related SpinCos,” the analyst added.