Thermo Fisher Scientific (TMO) PT Lowered to $600 at TD Cowen on 'Weakening US Academic Environment'

TD Cowen analyst Dan Brennan lowered the price target on Thermo Fisher Scientific (NYSE: TMO) to $600.00 (from $686.00) while maintaining a Buy rating.

The analyst commented: "We lowered our estimates for 1Q and for FY'25 to reflect a weakening US Academic environment as a result of our US Academic survey (where we model US Academic down (5%) in 1Q). For the full year we lowered our organic forecast to 3.2% (from 3.6%) vs. guidance +3-4% and consensus 3.5%. We also lowered our EPS forecast to reflect an initial impact of tariffs (though TMO disclosure has been very limited so far). TMO is now trading ~19x '25 P/E, and with a recession resistant portfolio and a mgmt team proven at navigating through difficult periods, we view the current price as attractive. We lower our PT to $600 PT with S&P500 multiple compression (and hence our target multiple) being the main contributor."

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