UPDATE: Deutsche Bank Raises PT on Abbott Laboratories on 1Q13 Earnings Preview

In a report published Friday, Deutsche Bank analyst Kristen Stewart reiterated a Hold rating on Abbott Laboratories

, and raised the price target from $33.00 to $35.00. In the report, Stewart noted, “The focus remains on utilization and pricing trends across the sector. Keep in mind, some companies have fewer selling days this year relative to last due to leap year and billing days. Biomet reported its F3Q13 (quarter ended Feb 28) on April 9 and their results suggested continued stability in hips and knees. We'll get a host of read-thrus across the MedTech space from J&J, who reports on April 16. We generally expect most companies to report in-line quarters and believe top-line growth rates, when adjusted for selling day differences, will show stability with the prior year. We expect some companies to update their forecasts for recent FX rate movements, particularly those with exposure to the Japanese Yen.” Abbott Laboratories closed on Thursday at $37.27.