UPDATE: Goldman Sachs Upgrades Abbott Laboratories As Growth Is Poised To Accelerate

In a report published Sunday, Goldman Sachs upgraded its stock rating on Abbott Laboratories ABT from neutral to buy and raised its price target on the company to $44, due to the analysts' expectations of growth for Abbott. Goldman Sachs reported that over the next several years it expects Abbott Laboratories to develop into the fastest growing large-cap company. In the report, analyst David H. Roman gave support for expectations: "(1) Emerging markets growth is taking hold faster than we had contemplated and should reach 46% of sales by 2016E. (2) The company's pipeline across most categories positions Abbott to gain market share in challenged geographies/markets (US Medical Devices) as well as gain incremental traction in higher growth areas (Diagnostics and Nutritionals). (3) Better growth and product mix is yielding margin expansion rapidly, and we see upside to stated 2015 targets on the basis of more favorable product mix and end-market growth. (4) New product launches and category growth should drive acceleration in overall revenue and EPS growth, supporting our above- consensus view (GSe EPS +2%-4% vs. consensus through 2016E)." Abbott Laboratories closed Friday at $36.59 and is currently trading up at 0.85 percent since market open hours.