Abbott Laboratories Upgraded to “Outperform” at Credit Suisse (ABT)
Abbott Laboratories (NYSE:ABT) was upgraded by equities research analysts at Credit Suisse from a “neutral” rating to an “outperform” rating in a research note issued to investors on Monday, TheFlyOnTheWall.com reports. The firm currently has a $46.00 price objective on the stock. Credit Suisse’s price target suggests a potential upside of 17.77% from the company’s current price.
Abbott Laboratories (NYSE:ABT) traded up 1.56% during mid-day trading on Monday, hitting $39.67. 3,237,905 shares of the company’s stock traded hands. Abbott Laboratories has a one year low of $32.70 and a one year high of $40.49. The stock’s 50-day moving average is $38.51 and its 200-day moving average is $38.25. The company has a market cap of $59.582 billion and a P/E ratio of 25.55.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, April 16th. The company reported $0.41 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.36 by $0.05. The company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.29 billion. During the same quarter in the prior year, the company posted $0.42 earnings per share. The company’s quarterly revenue was down 2.5% on a year-over-year basis. Analysts expect that Abbott Laboratories will post $2.20 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on ABT. Analysts at Citigroup Inc. reiterated a “sell” rating on shares of Abbott Laboratories in a research note on Monday, April 21st. They now have a $35.00 price target on the stock. Separately, analysts at Leerink Swann reiterated a “market perform” rating on shares of Abbott Laboratories in a research note on Thursday, April 17th. They now have a $42.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Abbott Laboratories in a research note on Thursday, April 17th. They now have a $40.00 price target on the stock. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $39.76.
Abbott Laboratories (NYSE:ABT) is engaged in the discovery, development, manufacture, and sale of a portfolio of science-based health care products.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.