Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Abbott Laboratories (NYSE:ABT) reported fourth-quarter results that were highlighted by a top- and bottom-line beat and a guidance range for the first quarter that came in ahead of the consensus estimate.
The Analyst
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
William Blair's Margaret Kaczor upgraded Abbott Laboratories' stock from Market Perform to Outperform.
The Thesis
After Abbott Laboratories posted a revenue and earnings per share beat, Kaczor gave six reasons for turning bullish on the stock. (See the analyst's track record here.)
- Trends seen across multiple business segments are sustainable and will help the company post a mid- to high-single-digit sales growth rate and a mid-teens earnings growth rate over the longer term. This strong growth profile makes Abbott among the best within the entire large-cap med tech space.
- Abbott Laboratories boasts multiple ongoing and upcoming product lines that represent multi-hundred million dollar sales opportunities over the next few years.
- Management continues to spend hundreds of millions to support its multiple products, but these are solid investments and will taper down over time while creating earnings leverage.
- As the company continues to pay down its large debt load, it will free up capital in 2019 and beyond for share repurchases, M&A activity or other investments.
- Any risk associated with international pediatric nutritional sales appear to have stabilized in the fourth quarter.
- Abbott Laboratories' stock valuation remains "reasonable" despite a more than 50-percent gain over the past year alone.
Price Action
Shares of Abbott Laboratories hit a new all-time high of $64.80 on Thursday and were trading higher by more than 2 percent on the day.
These 12 Stocks Struck All-Time Highs In 2017, But Analysts Still See Upside
Abbott Labs Has 'An Emerging Picture Of Top-Tier Growth,' Says Morgan Stanley
Photo from Wikimedia.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.