Thermo Fisher price target lowered to $561 from $572 at RBC Capital

RBC Capital analyst Conor McNamara lowered the firm’s price target on Thermo Fisher (TMO) to $561 from $572 and keeps an Outperform rating on the shares as part of a broader research note on the Life Sciences Tools and Diagnostics sector. The firm is updating its model with “more realistic” multiples, the analyst tells investors in a research note. September isn’t a great month to own healthcare, and with a rebound still 2-3 quarters away, this isn’t the time to broadly own the sector, RBC added.