Abbott price target lowered to $130 from $135 at RBC Capital

RBC Capital lowered the firm’s price target on Abbott (ABT) to $130 from $135 and keeps an Outperform rating on the shares. The company’s stock price fell after Q1 results and mixed performance across its major segments, though the firm believes that Abbott’s end markets are healthy where it has strong positioning, the analyst tells investors in a research note. The firm further notes that the stock’s current valuation is near a 10-year low on a next twelve-month expected earnings basis.