Investing.com UK - Financial Markets Worldwide
🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

These Analysts Lower Their Forecasts On Thermo Fisher After Q3 Results

Published 26/10/2023, 19:11
© Reuters. These Analysts Lower Their Forecasts On Thermo Fisher After Q3 Results
TMO
-

Benzinga - by Lisa Levin, Benzinga Editor.

Thermo Fisher Scientific Inc. (NYSE: TMO) reported mixed third-quarter financial results and lowered its FY23 guidance.

Thermo Fisher Scientific posted adjusted earnings of $5.69 per share, versus expectations of $5.61 per share. The company’s sales came in at $10.57 billion, compared to estimates of $10.59 billion.

The company said it now expects 2023 revenue to be $42.7 billion (prior $43.4 billion - $44.0 billion) vs. 43.53 billion consensus and adjusted EPS of $21.50 (prior $22.28 - $22.72) vs. $22.31 consensus.

Thermo Fisher shares rose 2.2% to trade at $442.65 on Thursday.

These analysts made changes to their price targets on Thermo Fisher following earnings announcement.

  • Morgan Stanley cut the price target on Thermo Fisher from $600 to $545. Morgan Stanley analyst Tejas Savant maintained an Overweight rating.
  • Raymond James slashed the price target on Thermo Fisher from $580 to $515. Raymond James analyst Andrew Cooper maintained an Outperform rating on the stock.
  • Citigroup lowered the price target on Thermo Fisher from $625 to $530. Citigroup analyst Patrick Donnelly maintained a Buy rating.
  • RBC Capital cut the price target on Thermo Fisher from $657 to $579. RBC Capital analyst Conor McNamara maintained an Outperform rating.
  • Keybanc analyst Paul Knight, meanwhile, downgraded Thermo Fisher Scientific from Overweight to Sector Weight.
Also Check This Out: Kimberly-Clark, Roblox And 2 Other Stocks Insiders Are Selling

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.