Barclays lowered the firm’s price target on Thermo Fisher (TMO) to $475 from $620 and keeps an Equal Weight rating on the shares as part of a Q1 earnings preview for life science tools and diagnostics group. Tools are still defensive, but less so than in the past given the threat of the pharma-specific tariffs potentially causing another round of budget cuts, the analyst tells investors in a research note. Barclays also downgraded the contract research organizations on lower visibility.
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