Abbott price target raised to $148 from $146 at UBS, shares remain undervalued

UBS raised the firm’s price target on Abbott (ABT) to $148 from $146 and keeps a Buy rating on the shares. Abbott’s quarterly results reinforced the firm’s confidence in the company’s ability to sustain double-digit sales growth in MedTech, driving total company sales growth in the high-single digits, the analyst tells investors in a research note. The firm believes shares remain undervalued and that the sustainability of Abbott’s MedTech business growth trajectory remains underappreciated. UBS thinks 7.5%-8.5% organic sales growth for 2025 could prove conservative.