Thermo Fisher Scientific (TMO) PT Raised to $605 at BofA Securities Ahead of Analyst Day
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BofA Securities analyst Derik de Bruin raised the price target on Thermo Fisher Scientific (NYSE: TMO) to $605.00 (from $570.00) ahead of the company's analyst day on 9/17.
The analyst reiterated a Buy rating, stating "Comments from peers Avantor (NYSE: AVTR) and Danaher (NYSE: DHR), both of which held analyst days last week, support our view of healthy end markets. With the PPD deal pending, and lingering benefits from the COVID pandemic to TMO’s portfolio and the sector in general, we are positive on TMO’s strategic positioning. As such, we are raising our out year organic revenue growth targets (from 5.5% to 6.0%) which drives our DCF based PO higher (still assuming a 7.1% WACC and a 3% terminal growth rate)."
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