Abbott price target raised to $122 from $114 at Barclays

Barclays analyst Matt Miksic raised the firm’s price target on Abbott to $122 from $114 and keeps an Overweight rating on the shares. The macro backdrop remains challenging for medical supplies and devices and the timing for improvements in inflationary pressures, supply chain issues and hospital staffing challenges is uncertain, Miksic tells investors in a research note. However, the analyst remains "generally constructive" on the sector, seeing improving volume trends, stable staffing challenges, and "potentially stabilizing" supply chain and inflationary cost trends. He continues to favor names with operating leverage or "discontinuous and favorable tailwinds, as they are generally better positioned to weather higher input costs."