These Analysts Lower Their Forecasts On Thermo Fisher After Q3 Results
Portfolio Pulse from Lisa Levin
Thermo Fisher Scientific Inc. (NYSE:TMO) reported mixed Q3 results and lowered its FY23 guidance. The company posted adjusted earnings of $5.69 per share, slightly above expectations, but sales were slightly below estimates. The company also revised its 2023 revenue and EPS forecasts downwards. Following the announcement, several analysts including Morgan Stanley, Raymond James, Citigroup, and RBC Capital lowered their price targets on Thermo Fisher. Keybanc analyst downgraded the stock from Overweight to Sector Weight.
October 26, 2023 | 6:11 pm
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Thermo Fisher's mixed Q3 results and lowered FY23 guidance led to several analysts reducing their price targets on the stock. This could potentially impact the stock's short-term performance.
Thermo Fisher's Q3 results were mixed, with earnings slightly above expectations but sales slightly below. The company also lowered its FY23 guidance, which is a negative signal about future performance. This led to several analysts reducing their price targets on the stock, which could put downward pressure on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100