Bank of America Securities Reiterates a Buy Rating on Thermo Fisher Scientific (TMO)

Thermo Fisher Scientific Inc. (NYSE:TMO) is one of the best long term low volatility stocks to buy right now. On October 20, Bank of America Securities analyst Michael Ryskin reiterated a Buy rating on Thermo Fisher Scientific Inc. (NYSE:TMO), without assigning a price target.

Thermo Fisher Scientific’s (TMO) Dividend: Steady Payouts in a Growing Market

The rating update followed Thermo Fisher Scientific Inc.’s (NYSE:TMO) announcement on October 16 that it is planning to further expand the impact of its proven growth strategy through the use of AI with OpenAI. The collaboration is expected to enhance the speed and success of drug development, allowing customers to distribute medicines to patients faster and more cost effectively.

In its collaboration with OpenAI, Thermo Fisher Scientific Inc. (NYSE:TMO) is focusing on “accelerating scientific innovation, enhancing productivity, and reducing complexity”, embedding Open AI APIs (Application Programming Interfaces) into critical areas of its business. This includes service delivery, product development, operational efficiency, and customer engagement.

Thermo Fisher Scientific Inc. (NYSE:TMO) provides analytical instruments, reagents, equipment, software, and other services for analysis, research, diagnostics, and discovery. It operates through the Analytical Instruments, Life Sciences Solutions, Laboratory Products and Services, and Specialty Diagnostics segments.

While we acknowledge the potential of TMO to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than TMO and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.