UPDATE: Citigroup Cuts PT to $82 on Thermo Fisher Scientific on In-Line Guidance

Citigroup maintained Thermo Fisher Scientific TMO with a Buy rating and lowered the price target from $83.00 to $82.00. Citigroup noted, "TMO delivered the 4th strong quarter of the year beating on both the top and bottom line driven by strength in Biopharma (similar with WAT) and Healthcare (flu added +30bps to revs). Academic/Gov't and Industrial remained weak but Applied markets continue to perform well with China demonstrating increased appetite for food safety and air quality systems. 2013 guidance was mostly inline though we believe upside may be possible given TMO's expectation for sequestration (NIH budget down -5%)." Thermo Fisher Scientific closed at $71.11 on Wednesday.