RBC Capital analyst Conor McNamara initiated coverage of Thermo Fisher with an Outperform rating and $661 price target. He sees the company becoming "a one-stop-shop for future biopharma research and drug development" by combining their historical assets in life science research with recent acquisitions in the CDMO, CRO, and diagnostics spaces, McNamara tells investors. Thermo being able to offer customers solutions for every step of the drug approval process "puts the company in an advantageous position," the analyst added.
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