Morgan Stanley Overweight on Abbott Laboratories
Morgan Stanley is out with a research report on Abbott Laboratories (NYSE: ABT) and it has an Overweight rating and a $55 price target on shares.
In a note to clients, Morgan Stanley writes, "We see the risk/reward in the Humira vs. tofacitinib debate likely to shift in favor of Abbott, as we outlined in our March 30 report, Reports of Humira's Death are Greatly Exaggerated. Our sense is expectations for tofacitinib are optimistic considering historical benchmarks for the uptake of oral and RA drugs. We maintain our Overweight rating. Pfizer is covered by MS pharmaceuticals analyst David Risinger, who estimates 65% odds of tofacitinib approval and ‘15E probability adjusted sales of $1.8B in light of safety concerns seen in the ORAL dataset to date."
Shares of ABT gained 96 cents yesterday to close at $53.84, a gain of 1.82%.
