UPDATE: JP Morgan Upgrades Thermo Fisher Scientific to Overweight on Favorable Risk/Reward
JP Morgan upgraded Thermo Fisher Scientific (NYSE: TMO) from Neutral to Overweight and raised the price target from $70.00 to $80.00.
JP Morgan noted, "We are upgrading Thermo Fisher Scientific (TMO) from Neutral to Overweight on favorable risk/reward due to conservative guidance that should be at worst achievable, and more likely beatable, and an improving record of capital deployment since management has increasingly focused on the higher bar of ROIC, rather than simply adjusted EPS accretion. The company's robust and growing free cash flow provides clear optionality around additional capital deployment, including but not limited to recent press reports (Reuters) that it is now evaluating a purchase of Life Technologies (LIFE)."
Thermo Fisher Scientific closed at $72.14 on Thursday.
Latest Ratings for TMO
|Oct 2014||Stifel Nicolaus||Maintains||Buy|
|Oct 2014||BTIG Research||Initiates Coverage on||Neutral|
|Sep 2014||Morgan Stanley||Initiates Coverage on||Overweight|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.