HSBC raised the firm’s price target on Thermo Fisher to $660 from $630 and keeps a Buy rating on the shares. HSBC’s supply chain analysis suggests the de-stocking effects as well as order books might be on a recovery path for the life sciences tools sector, the analyst tells investors in a research note. The firm also believes the “geopolitical divide” of biotech funding around the U.S. Biosecure Act might result in a better pricing environment for outsourcers, potentially supporting incremental margins and multiples. Its preferred stocks for the recovery thesis are Thermo Fisher, Stedim and Iqvia. .
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TMO:
- Ingersoll-Rand’s Dover deal not a threat to bioprocessing space, says KeyBanc
- Repligen appoints Pax to board of directors
- Nike downgraded, Pepsi upgraded: Wall Street’s top analyst calls
- Thermo Fisher resumed with a Neutral at Citi
- China stimulus positive for GE HealthCare, tool companies, says Evercore ISI
