Thermo Fisher Scientific Inc

TMO: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$996.00	Qjvm	Qqvpfhlgl

Thermo Fisher Earnings: Strong Results Despite More Challenging Environment

Alex Morozov

Apr 26, 2023

We are maintaining our $590 fair value estimate for wide-moat Thermo Fisher following its first-quarter results. With COVID-19-related revenue predictably declining, the company delivered results largely in line with our forecast. The firm's more tempered commentary on the macro environment is unlikely to materially challenge the overall near-term growth profile and, as such, we're not making any changes to our forecast. We view shares as fairly valued.

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