| 2016-10-18 09:49:48|
TMO 09:49 10/18 10/18/16
Thermo Fisher demand trends remain soft, says Cleveland Research
Cleveland Research said recent work continues to indicate demand trends over the past few months remain soft as European government, U.S. academic, and global pharma companies have incrementally slowed their growth in R&D spending. Consequently, the firm continues to expect 3Q16 organic growth of 3% for Thermo Fisher but believes the company needs to raise FY16 guidance by 7c-9c to reflect FEI accretion. Cleveland rates Thermo Fisher a Neutral.