Citi analyst Patrick Donnelly resumed coverage of Thermo Fisher with a Neutral rating and $620 price target. The analyst we sees the stock’s current valuation as fair. The firm continues to view Thermo as a “well-entrenched diversified player” and believes management has mostly de-risked this year, but given the recent multiple expansion and its 2025 numbers below consensus, Citi has a Neutral rating on the name.
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