Wall Street analyst predicts Abbott Laboratories stock could reach $143, with strong growth potential.

From Nasdaq: 2024-08-12 20:29:00

Wall Street analyst believes Abbott Laboratories stock (NYSE: ABT) could outperform, raising price target to $143 per share after latest earnings report. Company announced partnership with Medtronic (NYSE: MDT) but faces penalty over baby formula lawsuit. Despite challenges, Abbott offers consistent dividend payout and growth potential with strong sales in diabetes devices and continuous glucose monitor market.

Abbott’s sales on track with recent launch of FreeStyle Libre 3 in the U.S., leading to 18.4% year-over-year sales growth. Company’s partnership with Medtronic for integrated system boosts revenue streams. While Abbott faces lawsuits over baby formula, it is expected to appeal recent verdicts and maintain profitability. With diversified revenue streams and stable cash flow, Abbott remains a solid long-term investment option. Potential yields from investment are promising, as per financial forecasts.



Read more at Nasdaq: Abbott Laboratories Stock Could Soar to $143, According to a Wall Street Analyst. Is It a Buy Around $108?