Stifel Reaffirms Buy on Thermo Fisher (TMO) Despite Price Target Cut

Thermo Fisher Scientific Inc. (NYSE:TMO) ranks among the best medical stocks to buy according to analysts. On July 25, Stifel maintained its Buy rating on Thermo Fisher Scientific Inc. (NYSE:TMO) but reduced its price target from $620 to $583. The firm’s move comes after Thermo Fisher’s second-quarter results, which Stifel called “strong” despite “above-average skittishness by Thermo standards.”

Stifel praised Thermo Fisher’s performance “in a tough environment” as being “on point,” noting that the company’s management had addressed the company’s mid- to long-term growth issues, which had turned into “a meaningful sticking point for investors looking to own the stock.”

The firm acknowledged that the market environment is still “plenty choppy”, though it added that the company’s July 25 price movement possibly included “a squeeze/covering element.” According to Stifel, the reorganization of the quarterly performance and outlook could result in “a constructive conversation that has been absent for several months.”

One of the top biotech and life sciences companies in the United States, Thermo Fisher Scientific Inc. (NYSE:TMO) offers a broad range of products and services. The company has grown significantly since its founding, mostly as a result of a number of well-timed acquisitions, such as those of Affymetrix and Life Technologies.

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