UPDATE: Goldman Sachs Raises Price Target on Waters to $90
According to Goldman Sachs, Waters (NYSE: WAT) price target is raised to $90.
Goldman Sachs said that WAT reported a 4Q11 revenue/EPS beat and 2012 guidance that drove share outperformance (+8.0% vs. S&P 500 -0.1%) while also driving the Tools group higher (2.3% on average). “Our 12-month price target goes to $90 from $84 on revised estimates and P/E (15.5X from 14.5X) and EV/EBITDA (11.0X from 10.5X) multiples on increased organic growth assumptions and less risk to 1Q given guidance.”
Waters closed yesterday at $85.04.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.