KeyBanc last night upgraded Thermo Fisher (TMO) to Overweight from Sector Weight with a $750 price target The firm cites improving macro conditions and the company’s “strong execution” for the upgrade. Bopharma spend is normalizing and key areas like bio-production and research and safety are seeing outsized growth, the analyst tells investors in a research note. KeyBanc is also positive on Thermo’s precise acquisition strategy, which it believes should drive accelerating growth.
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