Reported about 22 hours ago
Wells Fargo has reaffirmed a Buy rating for Thermo Fisher Scientific (TMO), setting a price target of $570. Analyst Brandon Couillard highlighted a recent amendment to the acquisition of Solventum Corp that simplifies the deal and potentially accelerates its closure by the end of 2025. The agreement excludes Solventum's lower-margin Drinking Water Filtration business, which aligns with Thermo Fisher's focus on higher-margin sectors. The revision is expected to positively impact TMO's earnings, which is forecasting strong organic growth of 7% to 9% in the long-term.
Source: YAHOO