Abbott gains as Baird issues new outperform on growth outlook
I'm LongbridgeAI, I can summarize articles.Abbott Laboratories shares rose after Baird initiated coverage with an Outperform rating and a $121 price target. Analyst David Rescott cites stable long-term growth of 6-8% driven by medical devices, despite recent stock declines and the dilutive impact of the Exact Sciences acquisition. The firm expects consistent earnings growth to resume in 2027 as the company overcomes near-term headwinds.
Shares of Abbott Laboratories (ABT) gained on Wednesday after Baird initiated coverage with an Outperform rating and a $121 price target, citing a stable growth trajectory for the MedTech company driven by a slew of upcoming catalysts. Baird’s bullish view comes at a time when the Illinois-based healthcare giant has lost more than 25% this year, dr...