UPDATE: Jefferies Raises PT on Thermo Fisher Scientific to $68 (TMO)

Jefferies is out with its report today on Thermo Fisher Scientific TMO, raising its PT from $66 to $68. In a note to clients, Jefferies writes, "TMO's 1Q11 EPS of $0.92 was $0.04 ahead of consensus on stronger revenue growth and better profit trends. We are raising our 2011 EPS forecast to $4.10 (from $4.00) to reflect the 1Q11 upside (+$0.05) and to account for anticipated DNEX-related contribution. Our PT moves to $68 (from $66) on higher cash flow forecasts." Jefferies maintains Buy on TMO. Shares of TMO closed Wednesday at $59.80.