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, "The latest phase 3 data and physician perspectives from the ACR meeting support our view that biologic TNF inhibitors will remain first-line RA therapy. We see Humira's stability and long-term contribution to Abbott as underappreciated."

Shares of ABT closed at $53.33on Friday.