In a report published Tuesday, Jefferies analyst Jeffrey Holford reiterated a Buy rating on Abbott Laboratories (NYSE: ABT), and raised the price target from $43.00 to $46.00.
Abbott Laboratories closed on Friday at $37.76.
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In the report, Jefferies noted, “As the Pharmaceuticals Industry looks towards restructuring and separation of undervalued assets we have prepared a highly proprietary sum of the parts analysis for our coverage universe to find the best opportunities. As a result we have upgraded Bayer and Merck & Co. to Buy from Hold and Eli Lilly to Hold from U/P, though it remains our least preferred stock. Novartis and Abbott are now our Top European and US picks respectively.”
