Thermo Fisher price target lowered to $620 from $625 at Bernstein

Bernstein analyst Eve Burstein lowered the firm’s price target on Thermo Fisher (TMO) to $620 from $625 and keeps a Market Perform rating on the shares following quarterly results. The firm notes organic revenue growth of 0% was in line with expectations, though the reported revenue slightly missed expectations, as did adjusted operating income. A small EPS beat was driven by interest/other expense. The company maintained its revenue guide for FY24, and raised the bottom of its EPS guide, Bernstein adds.