UPDATE: Atlantic Equities Starts Abbott Labs (ABT) at Neutral

April 15, 2021 3:53 AM EDT
Get Alerts ABT Hot Sheet
Price: $118.31 +0.73%

Rating Summary:
    20 Buy, 6 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 4 | New: 24
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(Updated - April 15, 2021 6:06 AM EDT)

Atlantic Equities analyst James Mainwaring initiates coverage on Abbott Labs (NYSE: ABT) with a Neutral rating and a price target of $122.00.

The analyst comments "We believe investors already appreciate the potential boost to organic growth the coronavirus cash benefit could bring with consensus estimating low double digit CAGR through FY25 in the medical devices division. While we see strong COVID-19 diagnostic demand through FY22, the weight of data coming from the vaccines suggests that to expect elevated demand beyond then would be inappropriate. Consequently, we would expect to see revenue growth decelerate in FY22 and turn negative in FY23 weighing on valuation and consequently share price performance."

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 $121.50 yesterday.

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