UPDATE: Jefferies Reiterates Buy Rating, Raises PT on Danaher Corporation

In a report published Wednesday, Jefferies reiterated its Buy rating on Danaher Corporation

, and raised its price target from $66.00 to $70.00. Jefferies noted, “The merits of DHR's portfolio re-positioning efforts were clearly on display in 4Q12 as core revenue growth vitality in its Life Sciences & Diagnostics unit (+7%) helped mitigate the effects of tepid trends in its industrial-oriented franchises. We are revising our 2013 EPS forecast to $3.48 (from $3.50) to account for the Apex Tool JV divestiture in 1Q13 (-$0.02). Our PT moves to $70 (from $66) on higher cash flow forecasts.” Danaher Corporation closed on Tuesday at $61.00.