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News  ›  Benzinga

Waters-Becton Dickinson Deal May Deliver Bigger Gains Than Expected: Analyst

Benzinga Logo Benzinga By Vandana Singh
Waters-Becton Dickinson Deal May Deliver Bigger Gains Than Expected: Analyst

William Blair initiated Outperform coverage on Waters Corporation following its merger with Becton Dickinson's Biosciences & Diagnostic Solutions business. The analyst sees greater synergy upside than initially priced in, with EPS accretion of ~$0.10 in 2026 rising to ~$2.70 by 2028. William Blair projects roughly 20% upside by year-end 2026 and believes the $345 million EBITDA synergy target is conservative based on comparable large M&A deals in life sciences.

Insights
GOOG   positive

Significant financial resources, notable quantum computing milestones, potential to advance AI efforts, and ability to leverage quantum computing for Google Cloud growth


WAT   positive

Analyst initiated Outperform rating with 20% upside target by year-end 2026. Strong strategic fit with merger partner, significant EPS accretion expected, and analyst believes synergy targets are conservative based on comparable deals.