UPDATE: Goldman Sachs Adds Thermo Fisher Scientific (TMO) to Conviction Buy List

(Updated - December 8, 2015 10:28 AM EST)

Goldman Sachs upgraded Thermo Fisher Scientific (NYSE: TMO) from Buy to Conviction Buy with a price target of $158.00 (from $146.00). Analyst Isaac Ro called the stock an "underappreciated growth story with an improving balance sheet."

"TMO stands at the crossroads of Healthcare and Industrials with products that fuel R&D innovation globally. This confers favorable volume and price dynamics that we think are underappreciated by investors in the current environment. For reference, TMO’s FY16 EPS growth rate is 280bps/840bps above XLV/XLI but the stock trades in line with both sectors on FY16 P/E," said Ro.

For an analyst ratings summary and ratings history on Thermo Fisher Scientific click here. For more ratings news on Thermo Fisher Scientific click here.

Shares of Thermo Fisher Scientific closed at $135.53 yesterday.

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