UPDATE: Jefferies Reiterates Buy Rating, Lowers PT on Abbott Laboratories as Top US Pharma Pick - Abbott Laboratories (NYSE:ABT)

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In a report published Friday, Jefferies analyst Jeffrey Holford reiterated a Buy rating on

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Abbott Laboratories

(NYSE: ABT), but lowered the price target from $46.00 to $44.00.In the report, Jefferies noted, “We reiterate Novartis as our Top European and Global Pick with positive growth inflection potential in 2014 and significant restructuring optionality being key drivers. Abbott is our Top US Pick for similar reasons. We highlight Roche, Sanofi and AbbVie as potentially offering particularly attractive entry points following the recent sell-off. AstraZeneca is now our Least Preferred stock.”Abbott Laboratories closed on Thursday at $36.30.