Mizuho Securities Raises Price Target as Thermo Fisher Scientific (TMO) Moves to Acquire FEIC
Mizuho Securities reiterated a Buy rating on Thermo Fisher Scientific (NYSE: TMO), and raised the price target to $170.00 (from $166.00), as the company's acquisition of FEIC is within reach.
Analyst Eric Criscuolo commented, "We're reiterating our Buy rating, nudging up our PT to $170 and adding FEI to our TMO model. While the acquisition is a bit outside of TMO's recent deals (Affymetrix, Alfa Aesar, etc), we still see the strategic rationale and think it should fit well within TMO's organization, while enhancing an already strong value proposition to the biopharma market. We're not surprised that TMO continues to consolidate the still highly-fragmented life science tools market, and expect management to continue to diligently roll up the industry, although M&A activity may pause a bit near-term."
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Shares of Thermo Fisher Scientific closed at $151.20 yesterday.