TD Cowen analyst Josh Jennings maintained a Buy rating on Abbott Laboratories (ABT – Research Report) today and set a price target of $135.00.
Josh Jennings has given his Buy rating due to a combination of factors that highlight the potential of Abbott Laboratories’ TriClip device. The two-year results from the TRILUMINATE trial demonstrate that TriClip significantly reduces heart failure hospitalizations in patients with severe tricuspid regurgitation, a benefit not observed at the one-year mark.
These findings not only confirm the device’s effectiveness in improving valve function and quality of life but also enhance its clinical and economic value propositions. The positive data from the trial are likely to boost investor confidence in Abbott Laboratories, supporting the Buy rating.
In another report released today, Barclays also maintained a Buy rating on the stock with a $158.00 price target.