Deutsche Bank Has Buy On Thermo Fisher Scientific

Deutsche Bank has a Buy rating and a $78 price target on shares of Thermo Fisher Scientific Inc. TMO. In a note to clients, Deutsche Bank writes, "We estimate TMO should trade at 17.5-19.5x our $4.20 FY11 EPS estimate and 14-16x our $5.25 FY12 EPS estimate (including FAS-123 expenses). These multiples, which are in line with the sector, imply an equity value per share, based on our FY11 and FY12 P/E assumptions, of $73.59-$81.98 and $73.18-$83.67, respectively." Shares of TMO lost 79 cents yesterday to close at $64.78, a loss of 1.2%.