Raymond James raised the firm’s price target on Abbott to $129 from $122 and keeps an Outperform rating on the shares. Raymond James views Abbott as a diversified healthcare player, with a consistent 7%+ top line, and low double digit EPS growth profile, which is unique in this cap range, the analyst tells investors in a research note. Though the litigation tied to the necrotizing enterocolitis in premature babies cases poses a headwind on sentiment, the firm thinks the ultimate financial obligation will be manageable, and underlying fundamentals remain strong.
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