TD Cowen Lowers Thermo Fisher (TMO) Price Target, Keeps Buy Rating

TD Cowen has lowered its price target on Thermo Fisher Scientific Inc. (NYSE:TMO) from $683 to $625 while maintaining a Buy rating. The firm raised its Q1 EPS estimate to $5.21 and expects 1% organic growth for the quarter, despite a negative impact from one less day and a customer shutdown. TD Cowen anticipates Q1 to be the low point for EPS growth, with stronger organic growth accelerating in the second half of 2026 driven by pharma strength and preclinical improvements.

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