Abbott price target lowered to $131 from $140 at BTIG

BTIG lowered the firm’s price target on Abbott (ABT) to $131 from $140 and keeps a Buy rating on the shares. The firm is updating its model for Abbott Labs to incorporate the Exact Sciences business, following the close of that acquisition last week, the analyst tells investors in a research note. BTIG separately notes the two-year results from the Tri.Fr trial of ABT’s TriClip shown at the American College of Cardiology Scientific Session which did not allow patients from the control medical therapy arm to cross over to TriClip treatment and showed a reduction in the TriClip group for a composite outcome of first hospitalization for heart failure or tricuspid valve surgery or cardiovascular death.