Report
Alex Morozov
EUR 101.80 For Business Accounts Only

Thermo Fisher Delivers In-Line Results in 3Q; Maintaining Valuation

While Thermo Fisher Scientific raised its full-year guidance on the revenue and earnings lines, this was largely driven by slight outperformance in the third quarter. We have slightly adjusted our 2017 numbers, but not enough to result in a change to our fair value estimate. Our narrow moat rating is also intact, and shares look fairly valued at current levels. 
Demand from the pharma customer base has decelerated to midsingle digits for the company, in line with peers and our long-term projecti...
Underlying
Thermo Fisher Scientific Inc.

Thermo Fisher Scientific is engaged in serving science. The company's segments include: Life Sciences Solutions, which provides reagents, instruments and consumables used in biological and medical research, discovery and production of new drugs and vaccines as well as diagnosis of disease; Analytical Instruments, which provides instruments, consumables, software and services that are used for a range of applications in the laboratory, on the production line and in the field; and Specialty Diagnostics, which provides diagnostic test kits, reagents, culture media, instruments and associated products for customers in healthcare, clinical, pharmaceutical, industrial, and food safety laboratories.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Alex Morozov

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