Credit Suisse changes its outlook on Danaher stock as the corporate’s bioprocess business comes under pressure. Analyst Dan Leonard downgraded medical stocks to neutral from higher, citing exposure to bioprocessing inventory reductions that might threaten Danaher’s growth. “Danaher has lowered its short-term bioprocess growth expectations (~25% of 2022 sales, excluding COVID testing) as demand for COVID vaccines has declined and customers are reducing inventory,” it wrote in a Thursday note to customers. “We consider the stockpile burn could proceed throughout 2023 before normalization takes place.” Leonard sees the corporate’s molecular diagnostics business as a long-term beneficiary of the pandemic, but suspects that the potential expiration of Covid as a public health emergency would nullify a few of the incentives Danaher has benefited from. He said the corporate can also be overestimating the demand for selling breath tests. “We consider that Danaher’s more general exposure to diagnostics (~2x in comparison with partners) may put pressure on growth rates relative to peers as a result of structural maturity and pricing,” he wrote. Given this case, Leonard doesn’t see much of a chance for the stock to grow in the longer term. It cut its price goal to $300 from $315 a share, and expectations for sales and earnings per share through 2025 were below Wall Street expectations. Recent Goal Means Stocks Jump Nearly 13% After Losing More Than 19% In 2022 – CNBC’s Michael Bloom Provided Reports