Deutsche Bank Upgrades Abbott Labs (ABT) to Buy

Deutsche Bank upgraded Abbott Labs (NYSE: ABT) from Hold to Buy with a price target of $54.00 (from $42.00).

Analyst Kristen Stewart said, "We had the opportunity to meet with Abbott's management team to discuss the developments of the company over the past several months and the implications for the outlook. On the heels of a strong quarter and our meeting, we walked away with confidence that the team has reshaped the company for sustained growth and there is strategic optionality with the Mylan proceeds. We believe ABT deserves a premium valuation. We are raising our price target to $54 and upgrading ABT shares to Buy from Hold. In our view, the shareholder value creation story is far from over."

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 $42.50 yesterday.

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