Abbott Labs (ABT) Numbers Trimmed at Jefferies, 'Buy' Maintained

September 4, 2013 8:34 AM EDT
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Price: $40.93 --0%

Rating Summary:
    13 Buy, 11 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Jefferies analyst Jeffrey Holford, PhD trimmed estimates and its price target on Abbott Labs (NYSE: ABT) from $46 to $44 but reiterated a Buy rating citing materially higher EPS than consensus.

"We look for materially higher EPS than consensus over our forecast period due to higher revenue and margins versus consensus," Holford states. "We also see scope for more shareholder friendly capital allocation toward debt repayments, share repurchases and dividends. We lay out our new divisional modeling approach in detail in this note and strongly reiterate our Buy rating on Abbott."

The firm cut a FY 2013 EPS from $2.55 to $2.50 and FY 2014 EPS from $3.12 to $3.04.

For an analyst ratings summary and ratings history on Abbott Labs click here. For more ratings news on Abbott Labs click here.

Shares of Abbott Labs closed at $32.93 yesterday.

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