Investing.com -- Raymond James downgraded Danaher Corporation (NYSE:DHR) to "Market Perform" from "Outperform," citing concerns over the company's growth trajectory following its fourth-quarter results and guidance that lagged peers.
The brokerage noted that Danaher's high-value portfolio, previously expected to generate leading growth, now appears less compelling as its organic growth forecast of about 3% offers limited upside compared to rivals. Analysts also flagged a lack of confidence in the company's long-term earnings growth outlook, calling management’s tone on key metrics "unsettling."
Raymond (NSE:RYMD) James said it expects the stock’s valuation premium over competitors like Thermo Fisher (NYSE:TMO) to compress, as Danaher is "not poised for major outperformance" and may struggle to justify its historical premium.
Meanwhile, the brokerage reiterated an "Outperform" rating on Thermo Fisher, highlighting its clearer growth outlook and relative valuation discount.
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