Thermo Fisher (TMO – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Tycho Peterson from Jefferies reiterated a Buy rating on the stock and has a $655.00 price target.
Tycho Peterson’s rating is based on the strategic potential of Thermo Fisher’s acquisition of Solventum’s filtration and purification business. This acquisition is expected to enhance Thermo Fisher’s bioproduction capabilities by adding a significant component to its existing offerings, allowing it to tap into a large and growing total addressable market valued at over $40 billion.
Additionally, the deal is anticipated to provide modest earnings per share growth in the near term, with minimal regulatory hurdles expected. The acquisition aligns well with Thermo Fisher’s growth profile and market strategy, positioning it favorably against competitors. Given these factors, Peterson reiterates a Buy rating for Thermo Fisher’s stock.
According to TipRanks, Peterson is a 4-star analyst with an average return of 5.9% and a 52.30% success rate. Peterson covers the Healthcare sector, focusing on stocks such as Thermo Fisher, NeoGenomics, and Danaher.
In another report released on February 10, Wells Fargo also maintained a Buy rating on the stock with a $680.00 price target.