These Analysts Revise Their Forecasts On Thermo Fisher Scientific Following Upbeat Earnings
Portfolio Pulse from Avi Kapoor
Thermo Fisher Scientific Inc. (TMO) reported better-than-expected Q1 financial results, with revenue of $10.34 billion and adjusted EPS of $5.11, surpassing consensus estimates. The company also raised its FY24 guidance, boosting sales forecasts to $42.3 billion-$43.3 billion and adjusted EPS guidance to $21.14-$22.02. Following the announcement, Baird and JP Morgan revised their price targets on TMO, with Baird slightly reducing theirs to $620 and JP Morgan increasing theirs to $650. TMO shares rose 0.5% to close at $577.39.
April 25, 2024 | 1:14 pm
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POSITIVE IMPACT
Thermo Fisher Scientific exceeded Q1 expectations and raised FY24 guidance, leading to a positive stock price movement and revised analyst price targets.
The positive earnings report and raised guidance indicate strong company performance and future growth prospects, likely leading to increased investor confidence and potential stock price appreciation. Analysts' revised price targets further validate the positive outlook, although Baird's slight reduction suggests a cautious optimism.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100