Danaher Corp

DHR: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$975.00	Zxjwsn	Flfsmmrk

Danaher Turns In Strong Fourth Quarter, but 2023 Headwinds Starting; No Fair Value Estimate Change

Julie Utterback

Jan 24, 2023

Narrow-moat Danaher turned in stronger-than-anticipated operating results for the fourth quarter that pushed full-year 2022 results above expectations. However, COVID-19-related tailwinds look likely to turn into headwinds in 2023, which could negatively affect the top and bottom lines. Considering these roughly offsetting factors in our model, we do not anticipate changing our $242 fair value estimate materially.

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