RBC Capital lowered the firm’s price target on Thermo Fisher to $579 from $657 and keeps an Outperform rating on the shares. The company’s initial 2024 outlook was worse than anticipated, and while the firm still believes in the long term fundamentals of the sector, that outperformance won’t come until someone beats revenue guidance, the analyst tells investors in a research note. RBC is also cutting its FY23 EPS view to $21.51 from $22.47 and its FY24 view to $21.79 from $24.51.
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