Waters Corporation: Price Target Boosted to $390 at Evercore ISI

Evercore ISI has raised its price target for Waters Corporation (NYSE: WAT) to $390 from $372, reflecting the company's strong financial performance and growth prospects. The analyst firm cited several factors that support the price target revision, including Waters' ability to maintain strong earnings growth despite a challenging macroeconomic environment, its success in expanding recurring revenue streams, and its continued investment in research and development.

Waters Corporation provides analytical workflow solutions in Asia, the Americas, and Europe. The company designs, manufactures, sells, and services high and ultra-performance liquid chromatography, as well as mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products, and post-warranty service plans. It also designs, manufactures, sells, and services thermal analysis, rheometry, and calorimetry instruments; and develops and supplies software-based products that interface with its instruments, as well as other manufacturers' instruments.



Waters' recurring revenue streams, which now account for over 60% of total revenue, have been a significant driver of the company's growth. The company's success in expanding these revenue streams, combined with its strong financial performance, has led to a significant increase in the company's valuation. Waters' stock price has risen by over 20% in the past year, reflecting the company's strong performance and growth prospects.



Evercore ISI also noted that Waters' strong balance sheet and cash flow generation provide a solid foundation for future growth. The company's commitment to sustainability and social responsibility, as demonstrated by its inclusion in the Dow Jones Sustainability North America Index for the fourth consecutive year, further enhances its appeal to investors.

Waters Corporation's innovative products and services, strong financial performance, and commitment to sustainability and social responsibility have all contributed to the company's growth prospects and the analyst firm's decision to raise its price target. The company's ability to maintain strong earnings growth despite a challenging macroeconomic environment, as well as its success in expanding recurring revenue streams, has led to a significant increase in the company's valuation. Waters' stock price has risen by over 20% in the past year, reflecting the company's strong performance and growth prospects.



In conclusion, Evercore ISI's price target revision for Waters Corporation reflects the company's strong financial performance, growth prospects, and commitment to sustainability and social responsibility. The company's innovative products and services, strong balance sheet, and cash flow generation have all contributed to the analyst firm's decision to raise its price target. Investors should consider these factors when evaluating Waters Corporation's stock and its potential for future growth.