Wells Fargo raised the firm’s price target on Thermo Fisher (TMO) to $680 from $660 and keeps an Overweight rating on the shares. Core growth is steadily improving quarter-over-quarter and 2025 outlook implies Thermo Fisher could exit near the low-end of its positive high single digit LRP target. Guidance for above-average margin expansion in 2025 was surprisingly strong and signals more ability to manage EPS growth than most imagined, Wells adds.
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