Raymond James lowered the firm’s price target on Abbott to $124 from $127 and keeps an Outperform rating on the shares. The underlying momentum is strong off of challenging comparisons even though Covid-testing comps distorted the reported results, the analyst tells investors in a research note. The testing comps will start to ease, which will help the growth optics, and Raymond James expects Abbott to continue to deliver a differentiated growth profile that should stand out in large cap healthcare.
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