Financial firm Leerink has revised its price target for Thermo Fisher Scientific (TMO, Financial), lowering it from $625 to $600. The adjustment comes in response to a change in peer company valuations. Despite the revised target, Leerink maintains an Outperform rating on Thermo Fisher's stock.
The company recently reported its first-quarter results, which showed mixed reactions from investors. Management tackled several pressing issues, including tariff impacts on academic sectors, while assuming that current tariff rates will persist through the year. Notably, the pharmaceutical sector continues to drive the company's primary market strength.
Investors are currently seeking greater clarity on issues surrounding sectoral tariffs and drug pricing policies, which are considered pivotal for potential improvements in research and development spending. Despite these challenges, Leerink remains optimistic about Thermo Fisher's long-term prospects. The firm recognizes Thermo Fisher as a multiyear growth-oriented business and a leader in life sciences tools, which plays a significant role in multiple key markets.
