Veralto price target lowered to $114 from $123 at BMO Capital

BMO Capital lowered the firm’s price target on Veralto (VLTO) to $114 from $123 and keeps an Outperform rating on the shares. The firm welcomes the $750M buyback that will be used opportunistically, but says that the $422M acquisition of In-Situ, while a strategic fit, is expensive, the analyst tells investors in a research note. BMO sees Veralto as a solid 10% compounder.