These Analysts Cut Their Forecasts On Abbott After Q3 Results
Portfolio Pulse from Lisa Levin
Abbott Laboratories reported better-than-expected Q3 results with an adjusted EPS of $1.14, beating the consensus of $1.04. However, sales decreased by 2.6% to $10.1 billion. The company also revised its FY23 adjusted EPS guidance to $4.42-$4.46. Following the announcement, analysts from Raymond James, Wells Fargo, and Morgan Stanley lowered their price targets on Abbott.
October 19, 2023 | 6:28 pm
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Despite beating Q3 expectations, Abbott Laboratories saw a decrease in sales and a downward revision in price targets by several analysts. This could potentially impact the company's stock price.
Abbott Laboratories reported better-than-expected Q3 results but saw a decrease in sales. Additionally, several analysts lowered their price targets on the company following the earnings announcement. These factors could potentially lead to a decrease in the company's stock price.
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IMPORTANCE 80
RELEVANCE 100