TMO - Life Science Tools & Diagnostics to see COVID tailwinds through 2023 - Wells Fargo
Despite a decline next year, COVID-19 testing-related tailwinds could increase in 2021, Wells Fargo points out, projecting vaccine and therapeutic Bioproduction to grow more sustainably than testing through 2023 and beyond.In its 2021outlook for the sector of Life Science Tools, Services, & Diagnostics, Dan Leonard and analysts forecast a positive 2021 core growth in its coverage, supported by easy comps and most stocks also benefitting from COVID tailwinds.Forecasting that 2021 COVID test volumes in the US (and globally) could exceed ~2M/day seen in Q4 2020, the report highlights a long-lasting demand for point-of-care COVID testing while certain other testing methods phase out earlier as vaccinations roll out. Related tickers: Danaher Corporation (DHR), Hologic (HOLX), Quest Diagnostics (DGX), Laboratory Corporation (LH), Thermo Fisher Scientific (TMO), and PerkinElmer (PKI).In COVID-related bioproduction, the analysts, sourcing incremental channel checks, estimate a $3 – 4B opportunity for suppliers of raw materials used in bioprocessing. Commenting
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Life Science Tools & Diagnostics to see COVID tailwinds through 2023 – Wells Fargo