The Latest Analyst Recommendations for Abbott Laboratories
ABT’s analyst recommendations
Abbott Laboratories (ABT) released its 2Q17 earnings results on July 20, 2017, reporting strong results for revenues as well as earnings and exceeding Wall Street’s estimates. ABT stock rose 2.9% on its earnings results announcement that day, and the Health Care Select Sector SPDR ETF (XLV) rose 0.66%. ABT accounts for ~6.3% of XLV’s total holdings.
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Now let’s look at Wall Street analysts’ recommendations and target prices for ABT stock for the next 12 months. As of September 15, 2017, according to recommendations of 20 brokerage companies that were part of a Reuters survey, 65.0% (or 13) firms rated Abbott Laboratories a “buy.” Around 35.0% (or seven) analysts gave it a “hold” rating. None of them gave the stock a “sell” rating.
According to these recommendations, Abbott Laboratories’ return potential over the next year stands at about 6.3%. ABT’s 12-month target price is $54.94 per share compared to the closing price of $51.69 on September 14, 2017.
Target prices and revised recommendations
Abbott Laboratories’ highest target price over the next 12 months is $58 per share, and its lowest target price is $47 per share. With these targets, ABT stock is expected to have a maximum investment return potential of ~12.2%. The maximum downside risk to investing in ABT stock for the next 12 months is estimated at 9.1%.
On September 1, 2017, BMI Capital reaffirmed its “hold” rating on ABT stock and gave it a target price of $53 per share. BTIG initiated coverage on ABT stock on June 21, 2017, with a target price of $56 per share and a “buy” rating.
As of September 15, 2017, peers Medtronic (MDT), Thermo Fisher Scientific (TMO), and Boston Scientific (BSX) have average broker target prices of $91.10, $200.90, and $30.90, respectively. These prices correspond to one-year returns of 9.4%, 4.8%, and 6.9%, respectively.