Deutsche Bank Comments on Danaher's Q410 Results (DHR)

Deutsche Bank is out with its report on Danaher DHR, commenting on Q410 results. In a note to clients, Deutsche Bank writes, "Core revenue growth was very strong with revenues exceeding our estimates by 2% at $3.61bn. Core revenues grew 13%, ahead of our 10% forecast driven by T&M (24% vs. 17% DBe), Environmental (9% - in line), Life Sciences (10% vs. 7% DBe), Dental (7.5% vs. 4% DBe) and Industrial Tech (15.5% vs. 14% DBe). Overall Income ex-items came in line at $627m. The underlying tax rate came in a bit lighter at 25% ex-$24m of items but FCF was outstanding at $501m." Deutsche Bank maintains Buy and a $54 PT on DHR. Shares of DHR are trading at $46.82, down 1.01% from Wednesday's close.