79% of Analysts Recommend a ‘Buy’ on Abbott Laboratories

Analysts’ recommendations

Abbott Laboratories (ABT) has a leading portfolio of products in its Nutrition, Diagnostics, Medical Devices, and Established Pharmaceuticals segments. The company reported stellar second-quarter earnings results on July 18. For more details, please read Abbott Laboratories’ Q2 Results: What Drove Its Robust Growth?

In this article, we’ll look at Abbott Laboratories’ recent recommendations and 12-month target prices from Wall Street analysts.

79% of Analysts Recommend a ‘Buy’ on Abbott Laboratories

On August 31, Reuters surveyed 19 analysts covering ABT stock. Of these analysts, ~79% (or 15) analysts gave “buy” or “strong buy” recommendations on the stock. Four analysts gave a “hold” recommendation on ABT stock. None of the analysts gave a “sell” recommendation to Abbott Laboratories. The chart above shows the analysts’ recommendation summary for ABT stock over the last few months.

Target prices

On August 31, Abbott Laboratories had a consensus 12-month target price of $71.13 per share. This target price represents a 12-month return potential of 6.1% based on the stock’s closing price of $67.02 on August 30.

Rating revisions and updates

On August 29, Moody’s (MCO) upgraded Abbott Laboratories’ senior unsecured rating to BAA1 while maintaining a positive outlook. On August 24, Wells Fargo (WFC) raised its target price on ABT stock from $72 to $73.

After Abbott Laboratories posted its second-quarter results on July 18, a number of investment research firms provided an updated recommendation and target prices on ABT stock. Investment research firms including Raymond James (RJF), Stifel, RBC, Jefferies, and Cowen and Company raised their target prices on Abbott Laboratories on July 19.

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