TD Cowen analyst Daniel Brennan maintains $Waters (WAT.US)$ with a hold rating, and maintains the target price at $410.
According to TipRanks data, the analyst has a success rate of 50.8% and a total average return of 14.4% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Waters (WAT.US)$'s main analysts recently are as follows:
The significant earnings surpass indicates that there are share gains and an earlier than anticipated recovery cycle. However, it is noted that the recent share price movement might have already accounted for all the potential gains, implying a scenario where future performance is expected to be flawless.
The company's third quarter was robust, marked by trends and commentary that were notably more positive relative to Tools peers regarding instrument demand. However, some skepticism remains regarding the fourth quarter. The critical issue now is the likelihood of achieving optimistic scenarios by 2025 and whether reaching an earnings per share figure for that year that would make the implied multiple more attainable (e.g., in the high 20s) currently seems ambitious.
The firm noted that while Waters' third-quarter performance was robust, this does not fully capture the current situation. It was suggested that the company may be at a pivotal point where the trajectory of its Liquid Chromatography-Mass Spectrometry (LCMS) business appears to have reached its lowest ebb.
Note:
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