#5 - Thermo Fisher Scientific (NYSE:TMO)
Biotechnology, and particularly gene editing, is a key area expected to benefit from robotics and AI. As gene editing technology becomes a reality, there will be an increasing demand for DNA extraction. Thermo Fisher Scientific Inc. (NYSE: TMO) excels in this area.
The company supplies robots that are designed to automate research tasks that require a high degree of precision and adaptability. To that end, Thermo Fisher is forecasting revenue from its Laboratory Products and Biopharma division to reach $22.8 billion, which is approximately 50% of the company’s total revenue.
TMO stock is flat in 2024 so far. However, on two separate occasions, it has hit resistance right around the $600 price level. The consensus of analysts tracked by MarketBeat indicates that the stock may hit that level in the next 12 months. In April, HSBC offered a price target of $670 for the stock.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.
Read More - Current Price
- $513.26
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 18 Buy Ratings, 4 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $649.33 (26.5% Upside)
