Barclays Reiterates an 'Overweight' on Thermo Fisher Scientific (TMO); Bullish Post Analyst Day

Barclays reiterates an 'Overweight' on Thermo Fisher Scientific (NYSE: TMO), PT $76.

Barclays analyst says, "We are bullish post the Analyst Day, and see TMO as one of the likely outperformers in the sector for 2H11. We reiterate our rating, and are aggressive buyers, even at current levels. TMO offers attractive EPS growth at a reasonable valuation, in our view. With 2012 consensus estimates likely to trend up, we believe the stock is well positioned to reach a mid-70s level in the near-medium term, even without much multiple expansion."

"FY2012 outlook leaves significant room for street numbers to move up: Based on the midpoint of 2011 guidance at $4.10 (excluding Phadia), 2012 outlook of 13-15% growth implies EPS of $4.63-4.72 (+expected Phadia contribution of $0.26-0.30 implies $4.91-5.00)."

For more ratings news on Thermo Fisher Scientific click here and for the rating history of Thermo Fisher Scientific click here.

Shares of Thermo Fisher Scientific closed at $64.19 yesterday.

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