Wells Fargo began coverage of Danaher Corp. (DHR) with a "market perform" rating and a price target of $90 on Thursday morning.
The analyst cited the company's acquisition of Cepheid, a global molecular diagnostics company, as its reasoning for the rating. The purchase suggests to Wells Fargo that Danaher is renewing its focus on the clinical diagnostics market, which it doesn't view as positively as the pharma-focused plans of the company's peers.
Shares of Washington, D.C.-based Danaher were up slightly on Thursday morning. The company designs, manufactures and markets professional, medical, industrial and commercial products and services.
What's Hot On TheStreet
How can we argue with this one: Shark Tank Star Kevin O'Leary is more fond of Tesla's (TSLA) product than its stock.
"At some point it has to fall to gravity," he said told TheStreet's Scott Gamm in an interview. "It's been trading on a different planet for years and now it has to trade on Earth." Amen.
Relax Apple stock bulls: For now, reports suggest a moderate delay in the Apple (AAPL) iPhone 8 ramp, rather than something more severe points out TheStreet's Eric Jhonsa. So far, the market has shrugged off concerns on a possible delayed iPhone 8 release (as in it misses the holiday launch window). But it's worthwhile to keep something in mind: Apple shares have lagged the S&P 500 over the past month, so some doubt may be trickling into the bull camp.