Bernstein analyst Lee Hambright has maintained their bullish stance on ABT stock, giving a Buy rating today.
Lee Hambright has given his Buy rating due to a combination of factors that highlight Abbott Laboratories’ strong performance and resilience. The company reported an impressive 8.3% organic sales growth, excluding COVID testing, with significant contributions from the Medical Devices segment, particularly in the U.S. CGM market. This growth was achieved despite a challenging macroeconomic environment, showcasing Abbott’s ability to thrive under pressure.
Furthermore, Abbott’s management maintained their guidance for the fiscal year, even in the face of a substantial tariff impact. This decision reflects confidence in the company’s underlying business strength and its capacity to offset external challenges through factors such as favorable foreign exchange movements. Additionally, Abbott’s diversified portfolio and supply chain adaptability make it an attractive investment during uncertain times, providing a natural hedge against economic fluctuations. The company’s strategic positioning and continued innovation contribute to its potential for sustained growth, justifying the Buy rating.
Hambright covers the Healthcare sector, focusing on stocks such as Abbott Laboratories, Dexcom, and Johnson & Johnson. According to TipRanks, Hambright has an average return of 5.8% and a 55.74% success rate on recommended stocks.
In another report released today, Piper Sandler also maintained a Buy rating on the stock with a $145.00 price target.