AVTR - Thermo Fisher outperforms as it becomes Cowen's new favorite

Images By Tang Ming Tung/DigitalVision via Getty Images The S&P 500 Health Care Index rose ~1.7% today thanks mainly to Thermo Fisher (TMO) which climbed ~3.7% recording its biggest one-day gain since late March. Related stocks, Avantor (AVTR), Danaher (DHR), and PerkinElmer (PKI) all rose in solidarity today. Before the market opened, Cowen in a note to clients, called Massachusetts-based company its new favorite among peers noting that many of them have struggled in 2021 as demand for COVID-19 testing wanes. Reducing revenue linked to COVID-19 expectations and adding potential contributions from M&A, the analyst Doug Schenkel has reduced the price target to $525.00 from $585.00 per share indicating a premium of ~12.9% to the close. “TMO should be bought now, AVTR and DHR remain attractive, and the risk/reward is improving on PKI,” the analyst argued. Early this month, life sciences companies that relied on coronavirus testing slipped in reaction

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Thermo Fisher outperforms as it becomes Cowen’s new favorite