Market Overview

UPDATE: Deutsche Bank Downgrades Abbott Laboratories to Hold, Lowers PT

Share:
Related ABT
Benzinga's M&A Chatter for Thursday August 27, 2015
Benzinga's Volume Movers
ESC - Abbott Absorbs More Good News For Dissolving Stent (Seeking Alpha)

In a report published Friday, Deutsche Bank downgraded its rating on Abbott Laboratories (NYSE: ABT) from Buy to Hold, and lowered its price target from $70.00 to $33.00.

Deutsche Bank noted, “Effective January 2, real-way trading commenced for the ‘new Abbott' (ABT-$33.27) and newly spun AbbVie (ABBV-$34.83). With this note, we are establishing our formal estimates and price target for ‘new ABT'. From a fundamental perspective, we believe new Abbott is an attractive company as it is well-diversified from a product, geographic, and reimbursement risk perspective and has the potential for above peer growth. However, we believe the current share price captures this positive fundamental outlook and our revised price target for ‘new ABT' is $33 (old was $70). Given the limited upside, we now rate ‘new ABT' Hold (‘old ABT' was a Buy).”

Abbott Laboratories closed on Thursday at $33.29.

Latest Ratings for ABT

DateFirmActionFromTo
Aug 2015Credit SuisseAssumesOutperform
Aug 2015JefferiesMaintainsHold
Jul 2015BarclaysMaintainsEqual-weight

View More Analyst Ratings for ABT
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Downgrades Analyst Ratings

 

Related Articles (ABT)

View Comments and Join the Discussion!

Get Benzinga's Newsletters