Piper Sandler Starts Abbott Labs (ABT) at Overweight

Piper Sandler analyst Adam Maeder initiates coverage on Abbott Labs (NYSE: ABT) with a Overweight rating and a price target of $131.00.

The analyst comments: "We are initiating coverage of Abbott Laboratories (NYSE: ABT) with an Overweight rating and $131 PT. While execution has been strong, ABT shares have underperformed YTD due to the ongoing NEC litigation, which has been an overhang. We don't see much top-line risk associated with the litigation, and we believe the Street is already pricing potential damages into the stock. With ABT trading at 22.3x consensus 2025 adj. EPS, we see an attractive entry point into what we believe is one of the higher quality large-cap medtech names. We see a pathway to durable HSD top-line growth and expect ABT to return to double-digit adj. EPS growth in 2025 (and there forward). We couple this financial profile with a consistent dividend and solid past track record in recessionary environments and, ultimately, we see a versatile large-cap name that's undervalued."

For an analyst ratings summary and ratings history on Abbott Labs click here. For more ratings news on Abbott Labs click here.

Shares of Abbott Labs closed at $114.88 yesterday.

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