Goldman Sachs Upgrades Abbott Labs (ABT) to Buy

Goldman Sachs upgraded Abbott Labs (NYSE: ABT) from Neutral to Buy with a price target of $44.00 (from $38.00). Analyst David H. Roman views Abbott as a fast growing large-cap company with margin expansion potential.

"We had been hesitant about the forward outlook given business pressures in 2H2012, but those factors are resolving into a more positive trajectory. In addition, our primary hold up has been valuation; however, with the S&P’s move, the attractiveness of Abbott’s growth rate, and increased peer multiples, we no longer see ABT’s premium multiple as a hindrance to share price outperformance," said Roman.

For an analyst ratings summary and ratings history on Abbott Labs (NYSE: ABT) click here. For more ratings news on Abbott Labs click here.

Shares of Abbott Labs closed at $36.59 yesterday.

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