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Abbott Laboratories: 2Q17 Earnings Beat Analysts' Estimate

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Part 5
Abbott Laboratories: 2Q17 Earnings Beat Analysts' Estimate PART 5 OF 5

Analysts Raise Recommendations on Abbott Stock after 2Q17

Analyst recommendations for Abbott Laboratories

Let’s take a look now at Wall Street analysts’ recommendations and target prices for Abbott Laboratories (ABT) stock over the next 12 months. Based on the recommendations of 19 brokerage firms in a Reuters survey, 68.0% rated Abbott Laboratories a “buy,” and 32.0% rated it a “hold.” None of the firms gave Abbott a “sell” rating.

Analysts Raise Recommendations on Abbott Stock after 2Q17

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The above table provides a recommendation summary for Abbott Laboratories over the next 12 months. As of July 24, 2017, ABT stock’s consensus 12-month target price was $54.60, which amounts to about a 7.4% return potential based on ABT’s closing price of $50.80 on July 21, 2017.

Target prices

According to analysts’ most recent recommendations, the lowest one-year target price for Abbott Laboratories is $48. That target implies a maximum downside risk of approximately -5.5% over the next 12 months. The company’s highest one-year target price is $58, which implies a ~14.2% maximum return potential over the next 12 months.

Rating updates

On July 21, 2017, following the earnings release, Deutsche Bank raised the price target for Abbott Laboratories from $49 to $56. Barclays also raised its price target for the stock, triggered by the company’s raised guidance and strong 2Q17 results as well as strong performance expectations going forward, driven by strategic acquisitions and new product launches. Barclays raised its price target from $52 to $57.

On July 21, 2017, Argus also raised its price target for ABT stock to $62 and maintained its “buy” rating for the stock.

Peers

Boston Scientific (BSX), Zimmer Biomet Holdings (ZBH), and Medtronic (MDT) are some of Abbot Laboratories’ major competitors. These stocks have average analyst target prices of $30.50, $136.30, and $92.40, respectively. These figures imply returns of -10.3%, 5.9%, and 8.6%, respectively, over the next 12 months.

For a diversified exposure to Abbott Laboratories, you can invest in the iShares Core S&P 500 (IVV). IVV invests 0.42% of its total holdings in Abbott Laboratories.

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