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Abbott Laboratories 3Q17 Earnings: What's Expected

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Abbott Laboratories 3Q17 Earnings: What's Expected PART 1 OF 4

Abbott’s Analyst Recommendations ahead of Its 3Q17 Results

Wall Street analysts’ views

On October 18, 2017, Abbott Laboratories (ABT) will release its 3Q17 earnings results. Abbott stock was trading at its 52-week high of $55.4 on October 10, and the company has been performing well, despite its recent big-ticket acquisitions and legal troubles.

According to a recent Reuters survey of 21 brokerage firms, ~62% of analysts issued a “buy” rating on ABT stock, while ~38% issued a “hold” rating on the stock. None has rated ABT stock a “sell.”

Abbott&#8217;s Analyst Recommendations ahead of Its 3Q17 Results

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Target price

On October 11, 2017, ABT stock’s consensus 12-month target price was $56.3, which amounts to a ~1.6% return potential, based on its closing price of $55.4 on October 10, 2017. ABT is expected to reach the highest 12-month target price of $64, representing maximum upside potential of 15.5%.

The maximum downside risk of investing in ABT stock is expected to be around -15.2%, based on its lowest 12-month target price of $47.

Recommendation upgrades and downgrades

On October 6, 2017, J.P. Morgan reaffirmed its “neutral” rating on the ABT stock. The stock rose ~0.15% the same day, while the Vanguard Value ETF (VTV) fell ~0.16%. VTV has ~0.81% of its total holdings in Abbott Laboratories.

Notably, on September 24, 2017, Cowen and Company reiterated its “buy” rating on the stock, with a target price of $55.

Series overview

In this series, we’ll assess Abbott’s 3Q17 earnings expectations and the company’s estimates ahead of its earnings release on October 18, 2017.

Abbott’s major competitors include Medtronic (MDT), Thermo Fisher Scientific (TMO), and Zimmer Biomet Holdings (ZBH). The average 12-month target prices for these stocks are $89.97, $209.54, and $135.22, respectively. These targets represent 12-month stock returns of 16.4%, 8.8%, and 14.2%, respectively.

In the next part, we’ll discuss Abbott’s 3Q17 revenue estimates.

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