UPDATE: Langenberg & Company Raises PT on Danaher Corporation on 2013 Forecast, Lowered Estimates

In a report published Monday, Langenberg & Company reiterated its Buy rating on Danaher Corporation

, and raised its price target from $62.00 to $66.00. Langenberg & Company noted, “Our 2013 forecast is adjusted to $3.45 from $3.55 - in line with consensus. Tweaks across the model embeds 3% core revenue growth, 100 bps of margin expansion. Danaher basically hit our prior price target and the new figure translates into a 6-7% FCF yield on our forward estimate. The shares are far from a home run at current levels but our "buy list" is very selective right now and we see Danaher as a safe haven, particularly for core growth and tax efficient strategies. For portfolio managers seeking to beat benchmarks we favor UTX and GE first but also see potential in DHR given its strong cash generation (more deals) and leverage to improving growth from China." Danaher Corporation closed on Friday at $61.57.