William Blair analyst Brandon Vazquez has maintained their bullish stance on ABT stock, giving a Buy rating today.
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Brandon Vazquez has given his Buy rating due to a combination of factors that reflect both the current challenges and future potential of Abbott Laboratories. Despite a mixed second-quarter update that led to a decline in share prices, the company’s results were largely in line with revenue and earnings expectations. However, the guidance update was less favorable, with a reduction in full-year organic revenue growth and a slightly lower third-quarter earnings forecast.
Nonetheless, Vazquez sees these issues as temporary, particularly within the diagnostics business, and believes that the company’s long-term growth prospects remain strong. Management’s confidence in achieving high-single-digit revenue growth and double-digit earnings growth next year supports this view. Vazquez’s analysis suggests that the anticipated acceleration in organic revenue growth and sustained earnings growth justify a positive outlook, warranting the Buy rating for Abbott Laboratories’ stock.
Vazquez covers the Healthcare sector, focusing on stocks such as Neogen, Elanco Animal Health, and PROCEPT BioRobotics. According to TipRanks, Vazquez has an average return of 2.7% and a 46.67% success rate on recommended stocks.
In another report released today, Evercore ISI also maintained a Buy rating on the stock with a $140.00 price target.