Thermo Fisher price target raised to $662 from $657 at RBC Capital

RBC Capital raised the firm’s price target on Thermo Fisher to $662 from $657 and keeps an Outperform rating on the shares after its Q1 earnings beat. The firm states that it would own the stock in the near term for its number upside and multiple expansion, while longer term, it is positive on Thermo Fisher’s strategy of being the “one-stop-shop for biopharma”. The also company didn’t call out any major changes to end-markets, and the management continues to believe growth returns in the second half of 2024 as China comps improve and biopharma spend returns to normalized levels, the analyst tells investors in a research note.