Rothschild & Co Redburn analyst Natalya Davies initiated coverage of Waters (WAT) with a Buy rating and $390 price target The firm sees the life science equipment market returning to “normalized growth” of 4%-6% over the medium term, bolstered by persistent innovation in analytical instrumentation. The analyst sees upside in Waters due to the company’s acquisition of Becton Dickinson’s Biosciences and Diagnostics business. Rothschild views the deal as value-accretive.
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