Abbott’s Whitfield case re-trial granted, not overturned, says BofA

Abbott (ABT) in October 2024 won the Whitfield case, though the plaintiffs appealed the Whitfield verdict and on Thursday, the judge granted a request for a retrial, BofA analyst Travis Steed tells investors in a research note. Abbott, whose verdict in the case still stands, will appeal this re-trial, the firm says. BofA, which has a Buy rating and $150 price target on Abbott shares, notes that Abbott could settle this litigation “at any point in time,” and does not think the stock will see the same type of litigation overhang it saw last year as shareholders likely feel more comfortable with the facts. In addition, BofA does not see Abbott’s defensive nature going away with these headlines.