J.P. Morgan is out with its report today on Waters WAT, maintaining Neutral.
In a note to clients, J.P. Morgan writes, "2Q11 results (8% organic) fell short of both high expectations and guidance (10% organic), as softer demand from academic and pharma customers took a toll, while
management also noted what appears to be transitory disruption around several new product launches, including Acquity I-Class (shipping this quarter) and
Synapt G2-S (introduced at ASMS in June). On the bottom line, EPS were further impacted by higher SG&A. However, despite the modest 2Q shortfall, with guidance unchanged for the year, we see little to change the investment debate, and we maintain our Neutral rating, in light of valuation."
J.P. Morgan maintains a $95 PT on WAT.
Shares of WAT closed Tuesday at $89.25.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in