Wolfe Research analyst Doug Schenkel upgraded Waters (WAT) to Outperform from Peer Perform with a $480 price target The stock is positioned to outperform given Waters’ above average core growth, upside to forma financial targets, “very attractive” free cash flow profile, and “top-notch” management team, the analyst tells investors in a research note. Wolfe believes the company is positioned to generate 6%-7% revenue growth and 200-300 basis points of operating margin expansion during its five-year model period.
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