Oppenheimer analyst Suraj Kalia initiates coverage on $Abbott Laboratories (ABT.US)$ with a buy rating, and sets the target price at $130.
According to TipRanks data, the analyst has a success rate of 53.1% and a total average return of 8.7% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Abbott Laboratories (ABT.US)$'s main analysts recently are as follows:
The firm's industry checks indicate that Q3 underlying utilization trends remained positive, even though the usual summer seasonality led to a sequential decrease in elective procedures. Additionally, investor sentiment towards MedTech stocks is favorable as the earnings season approaches, with the expectation that investors will likely persist in favoring successful and catalyst-driven names as the year comes to a close.
Abbott is described as a 'large-cap diversified healthcare play' with a dual character. On one hand, it boasts an enticing medical technology portfolio, accounting for 45% of its $42 billion global sales, with an annual growth rate of 11%-13%. On the other hand, the non-MedTech segments are growing at a lower rate, influenced by the ongoing litigation in the pediatric nutrition sector and diminishing COVID-19 diagnostics sales. It's suggested that as these pressures in the non-MedTech sectors lessen, Abbott's financial comparisons should improve by fiscal 2026, potentially leading to an uptick in sales growth to low-double-digits and an increase in EBIT margins.
Note:
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