Scotiabank Upgrades Thermo Fisher (TMO) to Outperform, Lowers PT

Thermo Fisher Scientific Inc. (NYSE:TMO) is one of the 13 Best Large Cap Stocks to Buy Right Now. On July 11, Scotiabank upgraded its rating for Thermo Fisher Scientific Inc. (NYSE:TMO) from “Sector Perform” to “Outperform” while also setting a new price target of $590, down from the previous $605.

The bank believes that the stock has been “disproportionately impacted” because of healthcare and trade policy talks and changes this year.

Scotiabank Upgrades Thermo Fisher (TMO) to Outperform, Lowers PT

A workstation in a research lab stocked with laboratory products and services.

Scotiabank expects Thermo Fisher Scientific Inc. (NYSE:TMO) to grow faster once the concerns about US healthcare policy changes go away. This growth is expected to be driven by the company’s “unparalleled commercial scale” and improved region-for-region capabilities anticipated by 2026.

The firm also pointed out that Thermo Fisher Scientific Inc.’s (NYSE:TMO) leading position in innovation, operational execution, and cash flow potential as key strengths that position the company well in the life science tools industry. In this industry, Thermo Fisher Scientific Inc. (NYSE:TMO) is the largest company “by a significant margin.”

Thermo Fisher Scientific Inc. (NYSE:TMO) is a leading life science and clinical research company that supplies analytical instruments, clinical development solutions, specialty diagnostics, laboratory, pharmaceutical, and biotechnology services.

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