Deutsche Bank Raises PT On DHR To $65

Deutsche Bank has raised its price target on Danaher DHR from $60 to $65 reflecting the company's acquisition of Beckman Coulter BEC, which is expected to happen by mid-May. Says Deutsche Bank, in its report, “DHR remains one of our favorite ideas given positive risk/reward vs. our $65 target price – in this sense, we highlight that the stock trades at just 15x FY12 earnings and a FCF yield of around 8%. We believe a strong 1Q11 (driven by T&M and Industrial upside), removal of equity issuance overhand (end-April) and BEC deal closure (by mid-May) will all be positive catalysts.” Deutsche Bank maintains a Buy rating on the stock. DHR closed at $51.60 and BEC at $83.02 yesterday.