Bank of America Securities Reiterates a Buy Rating on Thermo Fisher Scientific (TMO)

Thermo Fisher Scientific Inc. (NYSE:TMO) is one of the best long term low volatility stocks to buy right now. On October 20, Bank of America Securities analyst Michael Ryskin reiterated a Buy rating on Thermo Fisher Scientific Inc. (NYSE:TMO), without assigning a price target.

The rating update followed Thermo Fisher Scientific Inc.’s (NYSE:TMO) announcement on October 16 that it is planning to further expand the impact of its proven growth strategy through the use of AI with OpenAI. The collaboration is expected to enhance the speed and success of drug development, allowing customers to distribute medicines to patients faster and more cost effectively.

In its collaboration with OpenAI, Thermo Fisher Scientific Inc. (NYSE:TMO) is focusing on “accelerating scientific innovation, enhancing productivity, and reducing complexity”, embedding Open AI APIs (Application Programming Interfaces) into critical areas of its business. This includes service delivery, product development, operational efficiency, and customer engagement.

Thermo Fisher Scientific Inc. (NYSE:TMO) provides analytical instruments, reagents, equipment, software, and other services for analysis, research, diagnostics, and discovery. It operates through the Analytical Instruments, Life Sciences Solutions, Laboratory Products and Services, and Specialty Diagnostics segments.

While we acknowledge the potential of TMO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.