09:50 AM EDT, 04/23/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

Following better-than-anticipated Q1 results this morning, we up our target to $281 from $279, 31.8x our 2025 view, a premium to DHR's five-year historical forward P/E average. We keep our 2024 EPS view at $7.86 and 2025's at $8.84. DHR reported Q1 EPS of $1.92 vs. $2.05, down 6.3% Y/Y, yet exceeding our forecast by $0.12 and the consensus estimate by $0.21. Despite a 2.5% Y/Y contraction, revenue of $5.8B in Q1 came in $61M above our estimate and $176.8M above consensus as sales growth in the core Diagnostics segment (+6.5% Y/Y) but also in Life Sciences (+2% Y/Y) were higher than expected. Management sees encouraging signals of recovery and kept the guidance of a low-single-digit percent core revenue decline intact. For 2024, we continue to see sales rising by 1.3% Y/Y after declining by 10% in 2023. We think shares of DHR are attractive at current valuations, given its improving outlook post-Veralto spin-off and the Abcam deal. We saw a positive reaction to Q1 results, with shares up 8% pre-market today.