Morgan Stanley analyst Patrick Wood maintained a Buy rating on Thermo Fisher yesterday and set a price target of $656.00.
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Patrick Wood has given his Buy rating due to a combination of factors, including the recent positive third-quarter results and the subsequent adjustments to the financial model for Thermo Fisher. The updated price target has been increased to $656, reflecting a higher EV/EBITDA multiple of 23x based on 2026 projections, which indicates a premium compared to its core tools peer group.
Wood’s analysis suggests confidence in Thermo Fisher’s future performance, as the premium valuation aligns with previous levels, indicating a consistent positive outlook. The adjustments in the model and the increased price target reflect an optimistic view of the company’s growth potential and financial health, supporting the Buy recommendation.
In another report released on October 26, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $638.00 price target.
Based on the recent corporate insider activity of 69 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TMO in relation to earlier this year.