Abbott price target raised to $123 from $116 at Raymond James

Raymond James raised the firm’s price target on Abbott to $123 from $116 and keeps an Outperform rating on the shares. Abbott reported "solid" Q1 results, with three out of four segments growing more than 10% in the quarter, along with better base business margins, the analyst tells investors in a research note. The multiple could, however, keep the stock range-bound in the near-term, but Raymond James is more confident in Abbott’s 6%-7% revenue and 10%+ growth algorithm, ex-CV.