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Investment Bank Downgrades Fisher s Stock on News of Thermo Merger

NEW YORK, May 9 (GenomeWeb News) - An investment bank downgraded shares of Fisher Scientific following the company's planned $10.6 billion reverse merger with Thermo Electron, announced yesterday.

 

According to Dow Jones Newswires, investment bank JP Morgan cut Fisher's stock to 'neutral' from 'overweight.'

 

"Our rating change reflects ... a belief that Fisher Scientific shares will now trade within a narrow range, tied closely to the performance of Thermo Electron, for the remainder of the year," a broker from JP Morgan said in a statement.

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