Baird raised the firm’s price target on Waters (WAT) to $351 from $326 and keeps a Neutral rating on the shares. The firm said they reported 3Q revenue/EPS well ahead of expectations, driven by outperformance from pharma/industrial applications and a return to growth across many regions/end markets. The company noted positive signs around initiations of LC replacement cycles, citing encouraging instrument momentum and gradual improvements in large pharma spending.
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