Stock Analyst Note
Waters Earnings: Strong Q2 but Reduces 2024 Guidance on More Cautious View of Second-Half Recovery
Wide-moat Waters delivered strong second-quarter results, but management reduced its guidance for 2024 on a more cautious second-half recovery trajectory than previously anticipated. Even after tinkering with our near-term expectations, though, we are keeping our $323 fair value estimate intact, and Waters' shares look about fairly valued, in our opinion.