Abbott Laboratories (NYSE: ABT)‘s stock had its “buy” rating reiterated by equities researchers at Jefferies Group in a research report issued on Friday, AnalystRatings.Net reports. They currently have a $44.00 target price on the stock, down from their previous target price of $46.00. Jefferies Group’s price objective suggests a potential upside of 20.09% from the company’s current price.
The analysts wrote, “We reiterate Novartis as our Top European and Global Pick with positive growth inflection potential in 2014 and significant restructuring optionality being key drivers. Abbott is our Top US Pick for similar reasons. We highlight Roche, Sanofi and AbbVie as potentially offering particularly attractive entry points following the recent sell-off. AstraZeneca is now our Least Preferred stock.”
Several other analysts have also recently commented on the stock. Analysts at Goldman Sachs reiterated a “buy” rating on shares of Abbott Laboratories in a research note to investors on Tuesday, May 28th. They now have a $44.00 price target on the stock. Separately, analysts at RBC Capital raised their price target on shares of Abbott Laboratories from $38.00 to $42.00 in a research note to investors on Tuesday, May 28th. They now have an “outperform” rating on the stock. Finally, analysts at Gabelli initiated coverage on shares of Abbott Laboratories in a research note to investors on Tuesday, May 21st. They set a “buy” rating on the stock.
Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $39.23.
Shares of Abbott Laboratories (NYSE: ABT) traded up 1.91% during mid-day trading on Friday, hitting $37.34. Abbott Laboratories has a one year low of $29.2293 and a one year high of $38.77. The stock’s 50-day moving average is currently $36.94. The company has a market cap of $58.208 billion and a P/E ratio of 11.17.
Abbott Laboratories (NYSE: ABT) last released its earnings data on Wednesday, April 17th. The company reported $0.42 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.41 by $0.01. The company had revenue of $5.38 billion for the quarter, compared to the consensus estimate of $5.42 billion. During the same quarter in the prior year, the company posted $1.03 earnings per share. The company’s quarterly revenue was up 1.8% on a year-over-year basis. Abbott Laboratories has set its Q2 guidance at $0.43-0.45 EPS and its FY13 guidance at $1.98-2.04 EPS. On average, analysts predict that Abbott Laboratories will post $2.01 earnings per share for the current fiscal year.
Abbott Laboratories (NYSE: ABT) is engaged in the discovery, development, manufacture, and sale of a range of health care products.
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