Abbott price target lowered to $120 from $134 at Evercore ISI

Evercore ISI lowered the firm’s price target on Abbott (ABT) to $120 from $134 and keeps an Outperform rating on the shares. Shares are off about 4% on Q1 organic growth coming in a “tad below” Street forecasts and investors’ view of base organic guidance being lowered by about 50 basis points, the analyst tells investors. While “we get the reaction today,” Abbott will be one of the few large-cap Medtech organic growth acceleration stories into FY27, the analyst added.