TD Cowen notes that Abbott has posted a new analysis of GLP-1 and Libre usage in the investor section of its website and states that the data have “favorable implications for Libre.” This should “help to calm fears” about a potential negative impact from GLP-1s on Libre’s “impressive” growth, argues the analyst, who remains confident that Abbott can achieve its $10B sales target for the Libre family by 2028. The firm reiterates an Outperform rating and $130 price target on Abbott shares.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on ABT:
- Abbott says FreeStyle Libre users also on GLP-1 therapy up ‘significantly’
- Abbott Completes Acquisition of Bigfoot Biomedical
- Abbott completes acquisition of Bigfoot Biomedical
- Abbott Declares 399th Consecutive Quarterly Dividend
- White House to resume offering free at-home COVID tests in U.S., CNBC says