Thermo Fisher price target raised to $642 from $592 at RBC Capital

RBC Capital raised the firm’s price target on Thermo Fisher to $642 from $592 and keeps an Outperform rating on the shares after its Q4 earnings beat. The company ended the streak of cutting guidance for two consecutive quarters and should not “go back on offense”, the analyst tells investors in a research note. RBC adds that Thermo Fisher’s best-in-class management team and 20+ year track record of successful consolidation and share price outperformance are good barometers of its ability to navigate the next leg of growth in the Life Science Tools & Diagnostics sector.