Argus raised the firm’s price target on Thermo Fisher (TMO) to $610 from $580 and keeps a Buy rating on the shares after its “strong” Q3 earnings beat. The company is shrewdly deploying capital for M&A, facility expansions, and new product offerings such as AI tools, while the results also show that the end market conditions are improving, the analyst tells investors in a research note. Thermo Fisher’s recently announced collaboration with OpenAI presents another growth opportunity, the firm added.
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