Thermo Fisher (TMO) Shares Rise After Strong Earnings Report and Analyst Upgrades
Thermo Fisher Scientific Inc. (NYSE:TMO) saw its stock rise by 8.71% to close at $572.32 on Thursday, driven by strong second-quarter earnings and price target upgrades from three major investment firms. The company reported a 7% increase in net income year-over-year to $1.736 billion and revenue growth of 10% to $11.99 billion, attributed to its PPI Business System and strategic initiatives. Jefferies raised TMO's price target from $585 to $630 with a 'buy' rating, while Leerink Partners increased it to $620 and Evercore ISI set the new target at $615. These upgrades reflect confidence in Thermo Fisher’s performance and future potential. The company also announced a dividend of $0.47 per share for shareholders on record as of September 15, payable October 15.
Tickers: $TMO