Abbott Laboratories Continues to Strengthen Market Position

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Part 3
Abbott Laboratories Continues to Strengthen Market Position PART 3 OF 4

What Wall Street Analysts Recommend for ABT Stock

Analyst recommendations for ABT

Abbott Laboratories (ABT) has been gaining strength thanks to recent strong earnings results, collaborations, product approvals, and dividend payments. The company has shown fundamental strength amid integration challenges, Alere acquisition troubles, competitive markets, US tax reforms, and certain other macroeconomic challenges the company faced in 2017. For more, read These Developments Impacted Abbott Laboratories the Most in Fiscal 2017.

What Wall Street Analysts Recommend for ABT Stock

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As of March 7, 2018, considering a recent Reuters survey that consisted of 21 investment research firms, ABT stock is a “strong buy” as per ~33% of firms and a “buy” as per ~48% of firms. The other 19% of firms gave “hold” recommendations on ABT stock. The stock didn’t receive any “sell” recommendations, which reflects strong confidence in the company’s return potential and growth prospects from Wall Street analysts. The above table summarizes Wall Street’s 12-month recommendations on ABT stock over the recent period.

Target prices

As of March 7, 2018, Wall Street analysts’ consensus target price for ABT stock for the next 12 months is $68.22, which represents a growth potential of ~11.3% if an investment is made in ABT stock for the next 12 months. On March 7, 2018, ABT stock ended trading at a closing price of $61.29.

Peers Boson Scientific (BSX), Medtronic (MDT), and Becton Dickinson (BDX) have 12-month consensus target prices of $31.57, $91.45, and $241.97, respectively, which implies a 12-month investment return potential of 14.4%, 12.7%, and 10.4%, respectively, for these companies, as of March 7, 2018.

Revisions and updates

Recently, Moody’s upgraded its rating for Abbott Laboratories to “BAA2,” while maintaining a positive outlook on the stock. On January 30, 2018, Citigroup raised its target price on ABT stock from $59 to $64, while maintaining a “neutral” outlook on the stock. Citigroup’s target price rise followed the increase in target prices by Stifel Nicolaus, Wells Fargo, BMO Capital, and Raymond James after strong 4Q17 and fiscal 2017 results from Abbott Laboratories on January 24, 2018. For more detail, read Inside Abbott Laboratories’ 4Q17 Earnings Results: Key Highlights.


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