Jefferies on Abbott (ABT) Split: Pharma Unit Could Be Worth $29/Share, Medical Unit $32/Share

Responding to news Abbott (NYSE: ABT) will split into two publicly-traded entities (and the resulting rise in the stock this morning), Jefferies' Jeffery Holford estimated a break-up value of $61 per share in a research note Wednesday.

The analyst sees Abbott's Pharma unit being worth about $29 per share and labels this segment a likely takeover candidate. Holford sees possible suitors as Merck, (NYSE: MRK), Roche, Bayer or AstraZeneca (NYSE: AZN).

Holford believes Abbott's Medical Products division could be worth up to $32 per share.

The firm maintains a Buy rating and $60 price target on shares of Abbott.

Visit our Analyst Ratings page to track all the market-moving analyst action on shares of Abbott following the news.

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