Wells Fargo raised the firm’s price target on Abbott to $131 from $121 and keeps an Overweight rating on the shares. The firm notes that Abbott’s tone at a recent broker conference suggests Q4 could be at least in line with Street. Wells believes 2024 base business growth could accelerate over pre-pandemic rate of about 7%, suggesting guidance could be around 8%. Consensus EPS in 2024 seems fine, the firm adds.
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