JP Morgan Reiterates Neural, $55 PT on Abbott Laboratories

JP Morgan maintains its Neutral rating and $55 price target on Abbott Laboratories (NYSE: ABT) as it updates the its model and forecasts on the company.

JP Morgan notes, "We are updating our forecasts for the recent move in Fx and introducing our 2012 quarterly numbers. For 2011, our EPS projection of $4.66 (+11.6%) is unchanged. For 2012, our top-line forecast calls for revenue of $40.09B (+2.9%). On the bottom line, we model EPS of $5.06 (+8.4%) and our quarterly projections are as follows: $1.00, $1.25, $1.26, and $1.55. Switching to 2013, we forecast sales of $41.19B (+2.7%) and EPS of $5.34 (+5.5%)."

ABT closed at $56.02 per share on Friday.