UPDATE: Citigroup Reiterates Sell Rating, Lowers PT on Abbott Laboratories Following In-Line 2Q13 Results

In a report published Friday, Citigroup analyst Matthew J. Dodds reiterated a Sell rating on Abbott Laboratories ABT, but lowered the price target from $33.00 to $31.00. In the report, Citigroup noted, “ABT's sales came in a bit light for the 2nd straight quarter and were in line with our forecast. Comparisons do get a bit easier in 2H but management's expectations of improvement nearly across the board still appear aggressive and likely need to be at least met in order to maintain the current premium valuation.” Abbott Laboratories closed on Thursday at $35.70.