NEW YORK (GenomeWeb) – Investment bank Janney today downgraded Danaher's shares to a Neutral rating from a previous Buy rating, but kept its fair value estimate for the company at $95 per share.

In a research note, analyst Paul Knight said that Danaher "has more work to do on optimizing its portfolio, and we expect smaller organic growth surprises than other peers." In particular, he noted Danaher's 2.5 percent organic growth in the first quarter, which Knight said was the lowest among large cap science peers, such as Thermo Fisher Scientific, Waters, and Agilent Technologies.

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