Selected stock price target news of the day - October 17th, 2023

By: Matthew Otto

Thermo Fisher’s $3.1 Billion Acquisition of Olink Holding

Thermo Fisher Scientific has announced its acquisition of Olink Holding (OLK) in a $3.1 billion deal. The acquisition underscores the increasing impact of proteomics in advancing life science research and precision medicine, according to Marc N. Casper, Thermo Fisher’s CEO. Proteomics, the study of proteins and their cellular activities, is at the forefront of scientific innovation. The transaction is anticipated to conclude in mid-2024, with Thermo Fisher planning to finance the acquisition through a combination of cash on hand and debt financing. Despite the initial dilution of adjusted earnings by 17 cents per share in the first year of ownership, Thermo Fisher projects significant long-term benefits, aiming to realize about $125 million of adjusted operating income from revenue and cost synergies by the fifth year of the transaction.

Analyst Lowers Expectations and Adjusted Price Target

JPMorgan analyst Tycho W. Peterson has revised down the price target to $630.

Which Analyst has the best track record to show on TMO?

Analyst Timothy Daley (WELLS FARGO) currently has the highest performing score on TMO with 8/9 (88.89%) price target fulfillment ratio. His price targets carry an average of $5.4 (2.36%) potential upside. Thermo Fisher Scientific stock price reaches these price targets on average within 81 days.

Pfizer Faces Revenue Adjustment as Covid-19 Vaccine Sales Decline

Pfizer recently announced an adjustment to its revenue expectations for the year, revising the forecast to a range between $58 billion and $61 billion. This marks a notable downturn from its earlier projection of $67 billion to $70 billion. The primary driver behind this revision is the anticipated decline in sales of both Pfizer’s Covid-19 vaccine and its anti-viral treatment, Paxlovid. The company foresees a drop of $9 billion in revenue attributed to these products. .

Analysts Downgrade Pfizer Price Targets

Truist Securities analyst Robyn Karnauskas lowered the price target to $42.
Morgan Stanley analyst Terence Flynn adjusted the price target to $39.

Which Analyst has the best track record to show on PFE?

Analyst Carter Gould (BARCLAYS) currently has the highest performing score on PFE with 8/11 (72.73%) price target fulfillment ratio. His price targets carry an average of $3.15 (8.56%) potential upside. Pfizer stock price reaches these price targets on average within 90 days.