Evercore ISI maintains Outperform on Abbott, cuts target to $112
Evercore ISI Group analyst Vijay Kumar maintained an Outperform rating on Abbott Laboratories (NYSE: ABT) but lowered the price target to $112 from $120.
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Evercore ISI Group analyst Vijay Kumar has maintained an Outperform rating on Abbott Laboratories (NYSE: ABT) while adjusting the valuation outlook. The firm lowered the price target to $112, down from the previous $120.
Rating and Price Target Details
The revision follows a review of Abbott Laboratories' market position. The Outperform rating suggests the stock is expected to perform better than the broader market average despite the reduced price target.
| Metric | Value |
|---|---|
| Rating | Outperform |
| New Price Target | $112 |
| Previous Price Target | $120 |
The adjustment reflects a change in the analyst's valuation model rather than a shift in the fundamental bullish thesis on the healthcare company.
What specific factors in the valuation model led to the $8 reduction in the price target?
How might Abbott Laboratories' upcoming product launches influence the revised price target?
What are the potential risks to the Outperform rating given the current market conditions?
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