UBS said the Thermo Fisher (TMO) deal to buy Affymetrix (AFFX) is both strategic and accretive as it allows the company to offer a comprehensive offering in genetic analysis products to the research, clinical, and applied markets. The firm said the deal further supports its buy thesis and said current valuation barely suggests future value creation is being priced in. UBS reiterated its Buy rating and $175 price target on Thermo Fisher shares.
Deutsche Bank raised the firm's price target on Thermo Fisher to $610 from $600 and keeps a Buy rating on the shares post the Q1 report. The analyst says a solid operational performance drove a strong start to 2024.
Barclays analyst Luke Sergott raised the firm's price target on Thermo Fisher to $615 from $590 and keeps an Equal Weight rating on the shares. The company reported a beat across the board, says the analyst, who sees the business stabilizing.
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