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ABT Stock: Can We Expect a Bullish Trend after 2Q17 Earnings?

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ABT Stock: Can We Expect a Bullish Trend after 2Q17 Earnings? PART 1 OF 4

ABT: Wall Street Analysts’ Recommendations ahead of Q2 Earnings

Analysts’ views

Abbott Laboratories (ABT) is set to release its 2Q17 results on July 20, 2017. In a Reuters survey of 19 brokerage firms, ~68% of the analysts rated Intuitive Surgical a “buy,” and 32% rated it a “hold.” Only one analyst rated the company a “sell.”

For a brief overview of Abbott Laboratories, read Your Guide to Intuitive Surgical: Robotic Surgical Systems Leader.

ABT: Wall Street Analysts’ Recommendations ahead of Q2 Earnings

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Target price

The chart above shoes a recommendation summary for Abbott Laboratories over the next year. As of July 14, 2017, the stock’s consensus 12-month target price is $51.4, which amounts to an approximately 6.9% return potential based on ABT’s closing price of $48.1 on July 13, 2017. The stock’s highest 12-month target price stands at $90. The stock has the lowest 12-month target price of $4. These targets imply a maximum return potential of approximately 87% over the next 12 months, while the minimum 12-month return potential is -92%.

Recommendation upgrades and downgrades

On July 14, 2017, Cowen raised its target price on ABT stock to $55 following a sales estimate update. On July 10, 2017, Morgan Stanley raised its price target on the stock to $49 and reaffirmed its “equal” rating on the stock. Wells Fargo has also raised its rating on the stock from $47.5 to $54 ahead of the company’s 2Q16 earnings results on July 20, 2017.

Series overview

In this series, we’ll further the earnings expectations for the company from Wall Street, company estimates, recent stock price performance, and key growth drivers Abbott Laboratories.

Abbott Laboratories’ major competitors include Zimmer-Biomet Holdings (ZBH), Medtronic (MDT), and Thermo Fisher Scientific (TMO). These stocks have average analyst target prices of $135.8, $92.40, and $188.1, respectively. These figures imply returns of 5.3%, 5.2%, and 4.5%, respectively, over the next 12 months.

Investors can gain exposure to Abbott Laboratories by investing in the Vanguard Value ETF (VTV), which invests 0.74% of its portfolio in ABT.

In the next part of this series, let’s look at analysts’ 2Q17 revenue estimates for Abbott Laboratories.

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