Abbott Laboratories' Attractive Valuation Ranks It Among Top Large-Cap MedTech Companies, Says Analyst
Portfolio Pulse from Vandana Singh
Piper Sandler initiated coverage on Abbott Laboratories (NYSE:ABT) with an Overweight rating and a price target of $131, citing its attractive valuation and strong growth prospects in the medtech sector. Despite ongoing litigation, Abbott's diversified business model and consistent dividend payments make it a top large-cap medtech company.
September 19, 2024 | 7:03 pm
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Piper Sandler initiated coverage on Abbott Laboratories with an Overweight rating and a $131 price target. Abbott's diversified business model and strong growth in medtech position it as a top large-cap company. Despite ongoing litigation, the stock is seen as undervalued compared to peers.
The Overweight rating and price target of $131 from Piper Sandler suggest a positive outlook for Abbott Laboratories. The company's strong growth in medtech and attractive valuation, despite litigation concerns, indicate potential for stock price appreciation.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100