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UPDATE: ISI Group Initiates Waters with Market Weight, $86 PT on UPLC Upgrade Cycle Leverage

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ISI Group initiated its coverage on Waters (NYSE: WAT) with a Market Weight rating and a price target of $86.

ISI Group commented, "We are initiating coverage on shares of Waters with a Market Weight rating and a price target of $86.00, which on a forward basis equates to ~11x EV/EBITDA and ~15x operating EPS. Our thesis for WAT is based on outsized leverage to the multi-year UPLC upgrade cycle, attractive exposure to the emerging markets (biopharma / applied bias), and industry-leading capital returns balanced against a reasonable premium valuation."

Waters closed at $75.96 on Monday.

Latest Ratings for WAT

DateFirmActionFromTo
Sep 2014Morgan StanleyInitiates Coverage onUnderweight
Aug 2014Stifel NicolausInitiates Coverage onHold
Oct 2013Bank of AmericaDowngradesBuyNeutral

View More Analyst Ratings for WAT
View the Latest Analyst Ratings

Posted-In: ISI GroupAnalyst Color Price Target Initiation Intraday Update Analyst Ratings

 

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