Thermo Fisher Scientific (TMO) PT Raised to $650 at Benchmark

Benchmark analyst Robert Wasserman raised the price target on Thermo Fisher Scientific (NYSE: TMO) to $650.00 (from $580.00) while maintaining a Hold rating.

The analyst commented, "Thermo Fisher held an analyst day last week and provided very positive initial financial guidance for full year 2022, including 8% organic growth and $6 billion in contribution from the PPD acquisition, assumed to close at the end of this year. Our estimate had been flat revenue in 2021E without PPD. We are increasing our estimates for 2022E for Thermo due to positive guidance, and maintaining our Buy rating while increasing our price target to $650."

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