Thermo Fisher upgraded to Outperform from Neutral at Credit Suisse

Credit Suisse upgraded Thermo Fisher to Outperform from Neutral with an unchanged price target of $620. The analyst believes Thermo is better positioned to navigate the post-pandemic demand correction than its peers given its diversified portfolio, with an increasing mixed towards services, enhanced share gain opportunities, and secular growth opportunities. The company’s decision to increasingly mix its business toward clinical research and contract manufacturing services should better enable it to navigate the post-pandemic demand correction than more product-oriented peers, the analyst tells investors in a research note. The firm sees strong secular growth prospects for Thermo’s services businesses, boosted by increasing outsourced penetration.