Thermo Fisher Scientific Inc
TMO: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$929.00 | Ljcv | Bdhxwlnz |
COVID Testing Supports Revenue for Thermo Fisher in Q4, but We Expect It to Taper Off Materially
Wide-moat Thermo Fisher Scientific finished 2021 with strong results as the pandemic continues to demand additional testing requirements and vaccine materials globally. COVID-19 response revenue totaled $9.2 billion in the year, with $2.45 billion in the fourth quarter. We anticipate a modest increase to our $520 fair value estimate as we update our model to reflect 2021 results. Despite this expected increase, we continue to view the shares as moderately overvalued.