BTIG analyst Sung Ji Nam assigned a Buy rating to Thermo Fisher (NYSE: TMO) today and set a price target of $260. The company’s shares opened today at $217.14, close to its 52-week high of $226.44.
Ji Nam wrote:
“and Op. While TMO’s Analyst Meetings have become as predictable over the years, as the company’s solid financial performance has been consistent, we came away with unwavering conviction that there is still meaningful headroom for growth and EPS leverage both NT and LT, especially given TMO’s track record in R&D innovation and operational execution, attractive end markets, and highly seasoned (but still relatively young) management team. The key takeaways from yesterday’s meeting for us are: 1) TMO remains as much an industry leader in innovation as in consolidation; 2) TMO continues to capitalize on attractive end markets; 3) there is still sizable headroom for margin improvement before additional capital deployment; and 4) TMO’s EPS CAGR target (at the midpoint) is approximately 3 points above prior consensus, assuming full capital deployment over the next 3 years.”
According to TipRanks.com, Nam is a 4-star analyst with an average return of 5.6% and a 76.3% success rate. Nam covers the Healthcare sector, focusing on stocks such as Oxford Immunotec, Myriad Genetics, and Quotient Ltd.
Thermo Fisher has an analyst consensus of Moderate Buy, with a price target consensus of $245.
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The company has a one-year high of $226.44 and a one-year low of $170.07. Currently, Thermo Fisher has an average volume of 1.36M.
Based on the recent corporate insider activity of 69 insiders, corporate insider sentiment is negative on the stock.
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Thermo Fisher Scientific, Inc. engages in the provision of analytical instruments, equipment, reagents and consumables, software and services for research, analysis, discovery, and diagnostics. It operates through the following segments: Life Sciences Solutions; Analytical Instruments; Specialty Diagnostics; and Laboratory Products and Services.
