Citi Maintains Buy on Danaher

Citi is out with its report today on Danaher (NYSE: DHR), maintaining Buy.

In a note to clients, Citi writes, "Danaher issued 17.5 million shares, representing less than 3% of shares outstanding and $2.9 billion in new debt including $1.1 billion of commercial paper. Since European regulatory approvals took longer than anticipated, Danaher was able to use more free cash flow. In our view, Danaher remains one of the top high-quality, defensive growth names in the sector, and we continue to rate the shares a Buy."

Shares of DHR closed Tuesday at $54.38.