Thermo Fisher Scientific (TMO): Sector Reads Convey Confidence in End-Market Growth - Leerink
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Leerink Partners analyst, Puneet Souda, reiterated his Outperform rating on shares of Thermo Fisher Scientific (NYSE: TMO) after two recent events gave the analyst confidence in TMO's ability to drive ~5% organic sales and double digit EPS growth:
1)Agilent's fourth quarter report delivered 16% biopharma growth, suggesting that as of October 31st (A's off-cycle 4Q16 close), biopharma end-market growth in the sector remains not only healthy but also accelerated at a time when the Street was getting cautious on it
2) meeting with TMO's Senior Director of Investor Relations, Rafael Tajeda, to discuss the overall business which gave the analyst confidence in TMO's ability to deliver, despite any uncertainty caused by the U.S. election and the pending NIH funding appropriations
No change to the price target of $175.
Shares of Thermo Fisher Scientific closed at $148.88 yesterday.
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