Abbott Laboratories Analyst Is Bullish About MedTech, Non-MedTech Growth
Portfolio Pulse from Priya Nigam
Abbott Laboratories (NYSE:ABT) is experiencing significant growth in its MedTech portfolio, with a CAGR of 11%-13%, and its non-MedTech operations are expanding at a slower pace. Oppenheimer analyst Suraj Kalia has initiated coverage with an Outperform rating and a price target of $130, citing the company's strong product pipeline and strategic acquisitions. Abbott's shares rose by 0.7% to $114.17.
October 08, 2024 | 3:59 pm
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Abbott Laboratories is seeing robust growth in its MedTech segment, with a CAGR of 11%-13%. Analyst Suraj Kalia has given an Outperform rating and a $130 price target, highlighting the company's strong product pipeline and strategic acquisitions. Shares have risen by 0.7% to $114.17.
The positive analyst rating and price target suggest a bullish outlook for Abbott Laboratories, particularly due to its strong MedTech growth and strategic acquisitions. The immediate market reaction with a 0.7% increase in share price indicates investor confidence in the analyst's assessment.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100