On Oct 18, major Wall Street analysts update their ratings for $Abbott Laboratories (ABT.US)$, with price targets ranging from $130 to $146.
BofA Securities analyst Travis Steed maintains with a buy rating, and maintains the target price at $133.
Citi analyst Joanne Wuensch maintains with a buy rating.
UBS analyst Danielle Antalffy maintains with a buy rating, and adjusts the target price from $143 to $146.
TD Cowen analyst Josh Jennings maintains with a buy rating, and maintains the target price at $130.
Mizuho Securities analyst Anthony Petrone maintains with a hold rating, and adjusts the target price from $115 to $130.
Furthermore, according to the comprehensive report, the opinions of $Abbott Laboratories (ABT.US)$'s main analysts recently are as follows:
Abbott's recent modest sales and EPS beat reinforces confidence in the company's capacity to maintain double-digit MedTech sales expansion for the foreseeable future and overall high single-digit sales growth. The sustainability of Abbott's MedTech business growth trajectory is thought to be undervalued, presenting Abbott as a top opportunity for high single-digit to low double-digit sales growth.
Following Q3 results, adjustments have been made to the outlook for Abbott, suggesting the company is in a good position to handle any competitive pressures from pulsed field ablation. Additionally, the potential for leadless pacing may contribute to an acceleration of cardiac rhythm management growth beyond 3%. Despite the strong position and solid operational execution, it is assessed that market expectations have been met and that the company's valuation is reasonable when compared to its peers.
Despite the company's momentum, there is an ongoing search for sustainable operating margin expansion beyond the period of Testing decline.
Abbott's third-quarter sales exceeded expectations, propelled by strong performance in MedTech and COVID-19 testing, while keeping its organic growth forecast for FY24 steady and slightly raising the midpoint of its EPS outlook. Despite concerns regarding valuation and ongoing litigation, there's a sense of optimism about Abbott's performance.
Abbott's management conveyed optimism regarding the company's forecast for continued high single-digit revenue growth and double-digit earnings expansion. The CEO indicated that a high single-digit revenue increase and 10% earnings per share growth are within reach as a fundamental expectation. The presence of multiple new offerings in the rapidly advancing Diabetes Care and Structural Heart sectors suggests that Abbott's entire medical Device collection is poised for superior growth within the MedTech industry.
Here are the latest investment ratings and price targets for $Abbott Laboratories (ABT.US)$ from 7 analysts:
Note:
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