US Top Rating Updates on 8/25: NVDA, ILMN, TMO, DHR and More

Credit Suisse analyst Dan Leonard initiated coverage of $Illumina (ILMN.US)$ with a Neutral rating and $230 price target. The analyst is positive on the company's market position in next-gen sequencing, potential new product announcements, and conservative near-term guidance, but these tailwinds are offset by concerns that the Street "fundamentally misunderstands" Illumina's business maturation and lower forward growth prospects.

Credit Suisse analyst Dan Leonard initiated coverage of $Danaher (DHR.US)$ with an Outperform rating and $340 price target. The analyst believes the company has emerged stronger following the pandemic, with structural growth acceleration from bioprocessing and molecular diagnostics as well as plenty of capital to further deploy.

Credit Suisse analyst Dan Leonard initiated coverage of $Thermo Fisher Scientific (TMO.US)$ with a Neutral rating and $675 price target. The analyst is positive on the company's improved business mix and share gain opportunity, but his outlook is tempered by concerns that the Street underappreciates the high growth hurdle presented by Thermo Fisher's 2022 outperformance.