Citi ups Abbott target, opens ‘negative catalyst watch’

Citi raised the firm’s price target on Abbott (ABT) to $160 from $135 and keeps a Buy rating on the shares. The analyst also added a “90-day negative catalyst watch” on the shares. The stock “will need to test the litigation waters before further ascent,” the analyst tells investors in a research note. Citi, however, raised estimates for Abbott to reflect the company’s Q4 strength and momentum.