JP Morgan Reports on Thermo Fisher Scientific

JP Morgan commented on Thermo Fisher Scientific TMO in a report released today. In the report, JP Morgan was positive in its assessment of the company. JP Morgan writes, "In an effort to better understand the market opportunity for Phadia, Thermo's recent $3.5B acquisition (announced on 5/19), we surveyed 26 U.S. allergists and immunologists familiar with the allergen-specific serum IgE test, known as ImmunoCAP (~85% of Phadia revenues). Although we remain somewhat concerned about ROIC on the deal, despite management commentary that it was above the 10% internal hurdle rate, we came away believing that Phadia should provide growth above TMO's current levels (at least in U.S.), and given a renewed focus on capital deployment, and what we view as additional room for upside to both the multiple and EPS, we maintain our Overweight rating on TMO shares. " JP Morgan currently has an Overweight rating on Thermo Fisher Scientific and a price target of $72. Shares of Thermo Fisher Scientific closed at $62.80 on Friday.