UPDATE: Credit Suisse Initiates Outperform, $57 Target on Thermo-Fisher
Credit Suisse initiates coverage on Thermo-Fisher Scientific (NYSE: TMO) with an Outperform rating and $57 target price, as the company should see double-digit growth organically and through deal synergies.
Credit Suisse says, “Thermo is the largest and most diversified name in our coverage universe. While its organic growth is naturally less than some its peers given its revenue base, organic growth in the low-mid-single-digit range combined with deal synergies, margin expansion and share repurchases should still drive double-digit earnings growth at a relatively cheap price.”
TMO closed at $43.75 per share on Wednesday.
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