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Fly News Breaks for May 23, 2019
May 23, 2019 | 07:36 EDT
BTIG analyst Sung Ji Nam raised her price target on Thermo Fisher to $320 and kept her Buy rating after the company raised its 3-year organic revenue growth projections to 5%-7% for the "first time in recent history". The analyst cites the company's rise in exposure to the faster growing segments within biopharma and emerging markets, reflecting the management's strategic R&D investments, M&A, and operational efficiency efforts. Sung Ji Nam adds that her price target assumes a 24-times forward earnings multiple and marks a 7% premium to Thermo Fisher's peer group average, with added upside coming from the company's capital deployment potential.
News For TMO From the Last 2 Days
Jul 16, 2019 | 07:16 EDT
As previously reported, Needham analyst Stephen Unger downgraded Thermo Fisher to Buy from Strong Buy with an unchanged price target of $315. The analyst cites the "meaningful valuation improvement" of 32% for the stock over the past six months vs. the 20% advance for S&P500 along with his expectation of decelerating near-term organic revenue growth from the 7.2% reported in Q1 given the slower global business investment spending environment.