Thermo Fisher price target raised to $675 from $600 at BofA

BofA raised the firm’s price target on Thermo Fisher to $675 from $600 and keeps a Buy rating on the shares ahead of attending the company’s analyst day in New York City this Thursday. The firm, which thinks there’s still a great amount of uncertainty across the Tools space, says that commentary from Thermo Fisher on the pace of recovery and overall status of key markets is likely to drive overall sentiment for the space for the rest of 2024 and into 2025. However, the firm does not anticipate any change to FY24 guidance at the event and notes that management has indicated they will reiterate the long range plan of 7-9% organic growth.