Thermo Fisher Scientific Inc

TMO: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$488.00	Zxp	Hsbczccxy

COVID Testing Supports Revenue for Thermo Fisher in Q4, but We Expect It to Taper Off Materially

Alex Morozov

Feb 2, 2022

Wide-moat Thermo Fisher Scientific finished 2021 with strong results as the pandemic continues to demand additional testing requirements and vaccine materials globally. COVID-19 response revenue totaled $9.2 billion in the year, with $2.45 billion in the fourth quarter. We anticipate a modest increase to our $520 fair value estimate as we update our model to reflect 2021 results. Despite this expected increase, we continue to view the shares as moderately overvalued.

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