Jefferies Lifts Est./PT on Abbott Labs (ABT) after In-Line Q1

April 19, 2013 8:28 AM EDT
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Jefferies raised estimates and its price target on Abbott Labs (NYSE: ABT) from $42 to $43 following Q1 results.

The firm comments, "Q1'13 results were mostly in line despite some lingering pressures in Established Pharma and Medical Devices from 2012. These should annualize before H2'13, exposing strong underlying growth. Meanwhile Nutrition continues to deliver and we are increasingly convinced that management may deploy capital towards bolt-on acquisitions in the near future."

The firm raised FY 2013 EPS estimates from $2.53 to $2.54 and FY 2014 EPS from $3.04 to $3.08.

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 $36.88 yesterday.

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