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

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Waters Corporation (WAT) Q2 Earnings Beat, Revenues Increase
Earnings Scheduled For July 22, 2014

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
Jan 2015CitigroupMaintainsNeutral
Sep 2014Morgan StanleyInitiates Coverage onUnderweight
Aug 2014Stifel NicolausInitiates Coverage onHold

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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