Thermo Fisher: The Rerating Is Just Getting Started - Buy

Thermo Fisher is emerging from a challenging period with solid fundamentals, strong cash flow, and renewed growth, making it undervalued by the market. Recent earnings showed organic growth, margin expansion, and raised guidance, signaling a return to normalcy and operational strength. Valuation models indicate 15–48% upside, driven by recurring revenues, loyal customers, and potential for multiple expansion as confidence returns.