Thermo Fisher Likely to Update Growth Plan, Focus on Business Lines, Services, UBS Says

MT Newswires Live

Sep 17, 2024

Thermo Fisher Scientific (TMO) will likely update its growth plan on its upcoming analyst day, but there might not be any commentary on 2025, UBS Securities said in a note email Monday.

"We're expecting Thermo Fisher's upcoming analyst day to provide an in-depth look into the various business lines of the company's diversified portfolio," UBS said, with the company focusing on services, proteomics, the commercialization and weight-loss drugs.

UBS said it is keen to understand the impact of its 2025 GLP-1 contract on growth and the evolution of its commercial engine, which accelerates growth for previously slow-moving product lines.

Thermo Fisher's acquisition of Olink Holding (OLK) strengthens its leadership in mass spectrometry and high-plex proteomics, with potential for cross-selling between its instruments and new proteomics platform, UBS said.

UBS revised the company's 2024 and 2025 EPS estimates to $21.62 and $23.27, down from $21.67 and $23.76.

UBS raised its price target for Thermo Fisher to $700 from S$670, with a buy rating.

Price: 615.37, Change: +4.20, Percent Change: +0.69

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