Abbott price target raised to $125 from $120 at Jefferies

Jefferies raised the firm’s price target on Abbott to $125 from $120 and keeps a Hold rating on the shares after the company reported Q3 sales ahead of consensus, driven by MedTech outperformance and COVID tests, maintained FY24 organic growth guidance and ticked up the mid-point of its EPS range. The firm maintains a Hold rating based on valuation and litigation overhangs, but is “encouraged” by Abbott’s results, the analyst tells investors.