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Jefferies updates ratings on life sciences firms for 2026

ReutersDec 17, 2025 12:02 PM

Jefferies updates ratings and price targets for life sciences firms for 2026

Maintains "buy" for Waters WAT.N; says it "remains a top pick" citing favorable instrument replacement cycle and scope for numbers to move up with ~6% growth expected in 2026

Reiterates "buy" rating for Neogenomics NEO.O as brokerage expects new products to drive above-consensus growth in 2026

Downgrades Avantor AVTR.N to "underperform" from "hold", shares down 3.6% premarket; says structural challenges remain widespread, competition, pricing pressure, and bioprocessing asset quality, with "no quick fix" despite CEO transition

Maintains "buy" for Danaher Corp DHR.N expects double digit growth in consumables in 2026, while equipment sales to remain flat; adds that the biggest uncertainty - and potential upside - comes from equipment demand, small-scale process improvements, and extra orders from Asia

Reiterates "hold" for Illumina ILMN.O as brokerage question co's path to regain high single digit growth by 2027 due to uncertainties around China, academic funding and competitive threat from Roche

Company

Old PT

New PT

Waters

$405

$470

Neogenomics

$13

$15

Avantor

$12

$9

Danaher Corp

$245

$255

Illumina

$108

$125

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