Street View: Thermo Fisher's base business strength to prevail over inflation
28/10/2021 13:19
** Thermo Fisher Scientific Inc TMO.N on Wednesday
reported better-than-expected quarterly profit and raised its
full-year forecast for revenue and earnings, fueled by strong
COVID-19 related sales and recovery in its mainstay business
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TMO HAS POTENTIAL FOR INDUSTRY CONSOLIDATION
** J.P.Morgan ("overweight," PT:$700) says base business
remains strong and resilient amid supply chain challenges
** SVB Leerink ("outperform," PT:$685) expects TMO to
consolidate both the CRO (contract research organization) and
CDMO (contract development and manufacturing organization)
industries over the long-term
** Brokerage expects cash from COVID-19 vaccine
manufacturing and testing to help drive M&A
** Evercore ISI ("outperform," PT:$645) believes TMO has
appropriately managed pricing as a tool to mitigate inflationary
pressures
** "Relative to supply chain, scale of large companies
should be an advantage to TMO and help it tide better than the
industry" - Evercore ISI
** Cowen and Company ("outperform," PT:$715) remains
'enthused' on TMO's outlook and continues to expect above peer
group average revenue and EPS growth over the long-term
(Reporting by Siddarth S)
((Siddarth.s@thomsonreuters.com;))