Jefferies Raises Price Target on Thermo Fisher Scientific (TMO) and Increases 2012 EPS Estimate

Analysts at Jefferies equity research raised their price target on Thermo Fisher Scientific (NYSE: TMO) from $59 to $63. They also increased their 2012 EPS estimate by 5 cents to $4.80.

TMO provides analytical instruments, equipment, consumables, and software to the life science and health industry. According to Jefferies, TMO is exceeding their outlook for organic revenue growth, which should create favorable results going forward. First quarter organic revenue growth was 4 percent eclipsing their forecast of 2 percent, led by stronger performance in analytical technology.

In a company note, a Jefferies analyst said, “TMO's performance as notable in that it clearly demonstrated progress toward the restoration of a mid-single-digit organic revenue growth run rate following a more muted trajectory in 2011.”


Jefferies has a BUY rating on Thermo Fisher Scientific (NYSE: TMO) and a price target of $63.00

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 $55.07 yesterday.

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