Goldman Sachs upgrades Danaher, foresees 24% growth

Goldman Sachs has upgraded Danaher’s stock from neutral to buy. Analyst Matthew Sykes believes the company’s shares are now valued attractively. He set a target price of $260 for the next twelve months, suggesting that the stock could rise by nearly 24%. Danaher is a global conglomerate involved in biotech, diagnostics, and life sciences. Its shares have dropped over 8% this year and 16.5% in the last year. Sykes noted that lowered earnings expectations, especially for the biotech segment, have led to more realistic growth prospects. He expressed confidence in a recovery for Danaher’s bioprocessing segment. This, along with cost-saving measures that could improve profit margins, makes the stock a potential long-term investment despite current challenges. Sykes also mentioned that the declining estimates for Danaher’s biotech growth could provide a foundation for stock recovery. He sees the bioprocessing market poised for a comeback, which should benefit companies like Danaher. Overall, he believes the stock will outperform others in the market over the coming year.