Analysts’ recommendations for ABT
Abbott Laboratories (ABT) is slated to announce its Q3 earnings results on October 17. Let’s look at Wall Street analysts’ recommendations for ABT stock ahead of its earnings release.
As of October 11, as per a recent Reuters survey, which included 19 investment research firms covering ABT stock, 42% of analysts have a “strong buy” recommendation on ABT stock, while 37% have a “buy” rating for the stock. The remaining four analysts gave Abbott Laboratories a “hold” recommendation. The chart below shows a 12-month recommendation summary for ABT stock over the last few months.
On October 11, Abbott Laboratories had a consensus 12-month target price of $75.38, implying a 12-month investment return potential of 9.4%. That return is based on the stock’s closing price of $68.92 on October 10.
Peers Boston Scientific (BSX), Thermo Fisher Scientific (TMO), and Medtronic (MDT) had average analyst target prices of $40.32, $259.47, and $103.15, respectively. These price targets imply 12-month returns of 11.7%, 12.5%, and 8.5%, respectively.
Revisions and updates
On October 10, Morgan Stanley increased its target price on Abbott Laboratories from $70 to $80. On October 8, J.P. Morgan raised its target price on ABT stock from $77 to $81. On October 5, Cowen and Company also raised its target price on Abbott Laboratories from $72 to $86. Last month, on September 28, Wells Fargo had also increased its target price on ABT stock from $80 to $83.
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