Bank of America Securities analyst Travis Steed maintained a Buy rating on Abbott Laboratories (ABT – Research Report) yesterday and set a price target of $150.00.
Travis Steed has given his Buy rating due to a combination of factors, including Abbott Laboratories’ reaffirmation of its 2025 guidance for revenue growth, operating margin, and EPS. Despite the partial tariff impact expected in 2025, the company is effectively offsetting this with favorable foreign exchange conditions, which is expected to mitigate much of the tariff’s effect. Additionally, Abbott’s organic growth in the first quarter was strong at 6.9%, with notable performance in the Electrophysiology segment.
Abbott’s various segments showed robust growth, with Nutrition and EPD exceeding expectations and Devices ex-Diabetes also performing well. The company’s gross margin and operating margin were better than market expectations, and its EPS of $1.09 surpassed the Street’s estimate by 2%. These factors, combined with Abbott’s position as a high-quality, defensive company with growth prospects at the high end of the medtech sector, support the Buy rating.
According to TipRanks, Steed is a 4-star analyst with an average return of 5.4% and a 53.14% success rate. Steed covers the Healthcare sector, focusing on stocks such as Abbott Laboratories, Dexcom, and Intuitive Surgical.
In another report released today, Barclays also maintained a Buy rating on the stock with a $159.00 price target.