Bank of America Securities analyst Travis Steed has reiterated their bullish stance on ABT stock, giving a Buy rating today.
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Travis Steed’s rating is based on Abbott Laboratories’ attractive price-to-earnings multiple relative to its growth rate. Despite a recent decline in stock price following the Q2 earnings call, Steed believes the market reaction was exaggerated, as Abbott reiterated its 2026 guidance. The company is expected to deliver high single-digit revenue growth and double-digit EPS growth, making it a compelling investment at its current valuation.
Abbott’s revenue guidance was adjusted due to several headwinds, including declining COVID-19 testing sales, delayed recovery in China’s core lab volumes, and cuts in US AID funding. Although these factors impacted revenue projections, improvements in tariffs and foreign exchange rates partially offset the negative effects. Steed maintains a positive outlook on Abbott’s long-term growth prospects, justifying the Buy rating with a price objective of $150.00 USD.
In another report released today, Citi also maintained a Buy rating on the stock with a $155.00 price target.
Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ABT in relation to earlier this year.