Auriga Reiterates Buy on Thermo Fisher Scientific

Auriga is out with its report today on Thermo Fisher Scientific TMO, reiterating Buy. In a note to clients, Auriga writes, "Yesterday, Thermo Fisher held a well-attended Analyst Meeting here in New York. Management presented a detailed overview of growth areas of the business, operating levers available, the potential impact of Dionex and Phadia, and previewed three new products within the mass spectrometry business (more details at the upcoming ASMS meeting), as well as providing a first look at 2012 guidance. While most of the discussion focused on long-term themes, TMO noted current market trends remain steady and have not changed materially since the 1Q11 call. Overall, we continue to see TMO as well-positioned within its key end markets, while the combination of the recent acquisitions, new product introductions, and an increased footprint within rapidly growing emerging markets should boost TMO's organic growth rates by 100 basis points or more. As such, we continue to see upside for TMO shares and are reiterating our Buy rating and $73 price target." Shares of TMO closed Wednesday at $64.19, down 0.47% from Tuesday's close.