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Investment Bank Upgrades Thermo Stock, Expects Strong Second Half of 05

NEW YORK, July 12 (GenomeWeb News) - An investment bank this morning upgraded shares of Thermo Electron stock, saying the company is positioned well for potentially positive financial results in the second half of the year.

 

Shares in the tool company inched up 1.47 percent, or $.40, to $27.70 in mid-afternoon trading on the news.

 

J.P. Morgan upgraded shares of Thermo Electron to "overweight" from "neutral" "citing improving macro trends in the life science and industrial markets and potentially positive second-quarter results," according to a Marketwatch report.

 

The company "also appears poised for a strong second-half 2005 and 2006, with a solid pipeline of new products and recent acquisitions for the process control and equipment maker," the report quoted a J.P. Morgan analysts as saying.

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