BUZZ-Scotiabank upgrades Waters to 'sector outperform', raises PT

Brokerage Scotiabank upgrades life sciences tool maker Waters Corp WAT.N rating to "sector outperform" from "sector perform", raises PT to $450 from $430

Brokerage says the rating is based on WAT's strong Q4 financial performance and 2025 profit forecast

The price target is justified due to the timing of its clients' instrument replacement cycles, significant revenue from life science applications, and a leading position in emerging markets such as GLP-1 obesity drugs and generic drugs in India - Scotiabank

"On the bottom line, WAT continues to have significant EPS leverage, driven by its industry leading margins, recently initiated productivity and pricing initiatives and cash deployment capacity" - brokerage

Stock rose 21.7% in the last 12 months