UPDATE: Jefferies Raises Target to $96 on Waters
Jefferies reiterates its Hold rating on Waters (NYSE: WAT) and raises its price target to $96 from $94 a share as initial company outlook for 2012 appears realistic.
Jefferies says, "WAT's 4Q11 EPS of $1.56 was $0.06 ahead of consensus on stronger revenue growth and a lower tax rate (+$0.03). We are trimming our 2012 EPS forecast to $5.22 (from $5.30) to account for recent adverse FX-related developments. However, our PT moves to $96 (from $94) on higher cash flow forecasts."
WAT closed at $85.04 a share on Tuesday.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.