Thermo Fisher Guidance Is Weak, Analyst Concerned About Sluggish Market Fundamentals
Portfolio Pulse from Lekha Gupta
Thermo Fisher Scientific Inc (TMO) has been downgraded to Sector Weight from Overweight by KeyBanc Capital Markets analyst Paul Knight, following a Q3 revenue miss and lowered outlook for FY23. The company's management expressed concerns about cash conservatism from biotech customers, weakness in China, possible destocking, and overall industry decline. Other analysts from Morgan Stanley, Raymond James, and Citigroup also lowered their price targets for TMO.
October 26, 2023 | 6:09 pm
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NEGATIVE IMPACT
Thermo Fisher's Q3 revenue miss and lowered FY23 outlook, along with concerns about market conditions, have led to a downgrade by KeyBanc and lowered price targets by other analysts.
Thermo Fisher's Q3 revenue miss and lowered FY23 outlook are negative indicators for the company's performance. The downgrade by KeyBanc and lowered price targets by other analysts further suggest a bearish outlook for the stock in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100