Thermo Fisher Scientific Receives “Overweight” Rating from Morgan Stanley (TMO)
Thermo Fisher Scientific (NYSE:TMO)‘s stock had its “overweight” rating reiterated by equities research analysts at Morgan Stanley in a research note issued to investors on Monday, AnalystRatingsNetwork reports. They currently have a $128.00 price objective on the stock, up from their previous price objective of $119.00. Morgan Stanley’s price objective would indicate a potential upside of 16.31% from the stock’s previous close.
The analysts wrote, “We’re now including an estimate of potential LIFE transaction dis-synergies in 2014 and 2015, which lowers our 2014 EPS from $7.14 to $7.00 and 2015 EPS from $8.22 to $8.14,” the report said. “Our forecasts have an upward bias given the benefits of improving demand in 2014 (US Academic and industrial) plus conservative LIFE synergy targets. A potential drag to our 2014 forecast is the timing of closing the LIFE transaction, given our forecasts assume a January 1st 2014 closing (whereas closing is still pending additional regulatory clearance, most notably in the US and China).”
Thermo Fisher Scientific (NYSE:TMO) traded up 0.50% during mid-day trading on Monday, hitting $110.60. The stock had a trading volume of 599,789 shares. Thermo Fisher Scientific has a 1-year low of $65.08 and a 1-year high of $111.44. The stock’s 50-day moving average is $104.0 and its 200-day moving average is $94.42. The company has a market cap of $39.967 billion and a P/E ratio of 30.63.
Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, October 23rd. The company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.02. The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.18 billion. During the same quarter in the previous year, the company posted $1.19 earnings per share. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. Analysts expect that Thermo Fisher Scientific will post $5.36 EPS for the current fiscal year.
A number of other firms have also recently commented on TMO. Analysts at ISI Group raised their price target on shares of Thermo Fisher Scientific from $111.00 to $121.50 in a research note to investors on Monday. They now have a “buy” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Thermo Fisher Scientific in a research note to investors on Monday, October 28th. They now have a $103.00 price target on the stock. Finally, analysts at Jefferies Group raised their price target on shares of Thermo Fisher Scientific from $102.00 to $110.00 in a research note to investors on Thursday, October 24th. They now have a “buy” rating on the stock. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Thermo Fisher Scientific has a consensus rating of “Buy” and an average target price of $97.84.
Thermo Fisher Scientific Inc (NYSE:TMO) is engaged in serving science.
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