On July 28, Thermo Fisher Scientific rose 3.12% in regular trading, trading at $585.84/share, with turnover of $2.23 billion. The rally continues post-earnings momentum as multiple investment banks raised their target prices.

On July 27, Piper Sandler raised its target price from $510 to $600, maintaining a Neutral rating. Earlier, JPMorgan raised its target to $690 from $600, Deutsche Bank to $635, and Evercore ISI to $615, reflecting broad institutional confidence. Consensus mean target now stands at approximately $630.

The upgrades follow Thermo Fisher's Q2 results reported July 23, where adjusted EPS of $6.03 beat estimates of $5.71 by 5.6%, while revenue of $11.99 billion topped the $11.71 billion consensus. Operating profit grew 14% year-over-year, with all four business segments posting positive revenue growth. Management raised full-year revenue guidance to $47.4-$48.1 billion and projected Q3 adjusted EPS to increase 35-40 cents sequentially, signaling sustained earnings recovery.

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