Deutsche Bank Upgrades Abbott Labs (ABT) to Buy; Moving Ahead of 'Split'

Deutsche Bank upgraded Abbott Labs (NYSE: ABT) to Buy with a price target of $70.00.

Deutsche analyst said, "ABT's now dominant low growth pharma business has precluded its attractive growth diversified portfolio from getting an appropriate and higher multiple. With the planned split, pharma's value could be anchored by a juicy dividend, and the ABT Medical Products business could run with a higher mid teens multiple. In our view, as more transparency is given on the financials of these two businesses (mid-yr), ABT's shares are likely to move up in sympathy with the higher value we expect to be created for shareholders by this transaction."

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 $59.42 yesterday.

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