RBC Capital raised the firm’s price target on Thermo Fisher to $698 from $662 and keeps an Outperform rating on the shares. The company’s FY23 guidance cut was expected and likely incorporated enough conservatism not to let that happen again when it reports Q3, the analyst tells investors in a research note. Thermo Fisher’s peers have also talked about improving order patterns in the 2nd half, and its management also indicated that “there are some green shoots starting to happen in biotech”, the firm added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on TMO:
- Thermo Fisher price target lowered to $625 from $664 at Baird
- Thermo Fisher price target raised to $625 from $590 at Barclays
- Thermo Fisher Scientific Earnings Report: Did it Beat Expectations?
- Thermo Fisher says macro environment has become more challenged
- Thermo Fisher (NYSE:TMO) Cools Down on Big Q2 Miss