Jefferies Has Buy On Danaher Corp. (DHR)

Jefferies & Co. has a Buy rating and a $60 price target on shares of Danaher Corp. DHR.

In a note to clients, Jefferies writes, "DHR has already assembled an experienced integration team, led by Tom Joyce, and established plans that should allow it to begin executing on a bolus of cost savings opportunities in swift fashion after closing. Specifically, it expects to capture ~$125M of COGS-related synergies as well as ~$125M of SG&A and other operating expense savings annually by 2014. Even after factoring a fully-synergized cost structure on BEC's 2010 revenue base, we estimate the franchise's core profitability profile would still lag that of its average IVD peer by nearly 400bps, which validates the conservatism inherent in DHR's formal synergy goals, in our view."

Shares of DHR lost 50 cents yesterday to close at $50.45, a loss of nearly 1%.