UPDATE: Stifel Nicolaus Initiates Abbott Laboratories at Buy Post Spin
Stifel Nicolaus initiated Abbott Laboratories (NYSE: ABT) with a Buy rating and a $40.00 price target.
Stifel Nicolaus commented, "Post-spin, we believe Abbott is now a balanced, diversified medical products company with an attractive, long-term outlook for mid-to-upper single-digit sales growth and low double-digit EPS growth. Although ABT currently trades at a premium to its peers, we see potential for further EPS upside over time, driven by an intensified focus on growth and margin enhancing initiatives. Using a sum-of-the-parts valuation framework, we arrive at a $40 target price."
Abbott Laboratories closed at $34.46 on Thursday.
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