Abbott Laboratories, the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Josh Jennings from TD Cowen maintained a Buy rating on the stock and has a $145.00 price target.
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Josh Jennings has given his Buy rating due to a combination of factors that suggest Abbott Laboratories is well-positioned for growth. The company’s second-quarter results are expected to meet or exceed market expectations, which aligns with its trajectory to achieve its 2025 financial goals. Additionally, Abbott is set to benefit from the recent reduction in US-China tariffs and a neutral foreign exchange impact, which previously posed a negative effect on sales.
Furthermore, Abbott is experiencing strong operational momentum, driven by new product launches such as TriClip in the US and Volt in Europe. These developments, along with a projected increase in earnings per share, provide confidence in the company’s ability to meet its future earnings guidance. Although there are some challenges, such as declining Covid test sales and disruptions in HIV test sales, these are outweighed by the positive factors supporting Abbott’s growth outlook.
In another report released yesterday, Barclays also maintained a Buy rating on the stock with a $159.00 price target.
Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ABT in relation to earlier this year.