Thermo Fisher price target lowered to $651 from $694 at RBC Capital

RBC Capital lowered the firm’s price target on Thermo Fisher (TMO) to $651 from $694 and keeps an Outperform rating on the shares as part of a broader research note previewing Q1 results in the Life Science Tools and Diagnostics sector. The firm anticipates another optimistic tone from the sector’s management teams while also updating its models to reflect a “more realistic” outlook on where FY25 guidance for most of these companies should go in light of NIH grant funding cuts, tariffs, and a pending trade war with China that is already having an impact, the analyst tells investors in a research note.