Thermo Fisher price target lowered to $600 from $640 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Thermo Fisher to $600 from $640 and keeps an Overweight rating on the shares. The firm continues to feel confident in Thermo’s ability to deliver above market growth relative to peers, but notes recent management commentary pointing to FY23 market growth coming in closer to flat year-over-year, implying Thermo’s organic growth this year should come in closer to the lower end of their 2%-4% organic growth guidance.