Downgrade follows Wolfe Research’s coverage initiation, citing comparable growth and cheaper Thermo Fisher on P/E multiples.
Wolfe Research downgraded Danaher Corporation (DHR) to Peer Perform from Outperform, removing its price target after initiating coverage. The firm noted that forward and backward growth appear similar and highlighted Thermo Fisher Scientific (TMO) as a more attractively valued alternative on a price-to-earnings basis.
Danaher, a diagnostics and life sciences company, recently saw mixed analyst sentiment. RBC Capital resumed coverage on May 14 with an Outperform rating and a $200 price target, citing a recovering bioprocess market and achievable 6% revenue growth by 2027. Wolfe’s downgrade contrasts with RBC’s optimism, pointing to confusion over Danaher’s strategic direction following its Masimo (MASI) transaction.