FMP

FMP

Enter

David Roman of Goldman Sachs has recently set a bullish price target of $121 for Abbott Laboratories (NYSE:ABT), suggesting a potential upside of approximately

Goldman Sachs Sets Bullish Price Target for Abbott Laboratories

-

twitterlinkedinfacebook
blog post cover photo

Image credit: Google Images

  • David Roman of Goldman Sachs has set a bullish price target of $121 for Abbott Laboratories, indicating a potential upside of approximately 20.12%.
  • Abbott Laboratories is anticipated to report earnings per share (EPS) of $1.10, marking a 1.85% improvement from the same quarter last year.
  • Wall Street analysts have a favorable outlook on Abbott, with an average brokerage recommendation (ABR) of 1.53, indicating a strong buy sentiment.

David Roman of Goldman Sachs has recently set a bullish price target of $121 for Abbott Laboratories (NYSE:ABT), suggesting a potential upside of approximately 20.12% from its current price of $100.73. This optimistic outlook, as featured on StreetInsider, is based on a comprehensive analysis that underscores the company's strong market position and growth prospects. Abbott Laboratories, a leading name in the healthcare sector, is known for its diversified product portfolio, which spans across diagnostics, medical devices, nutritionals, and branded generic pharmaceuticals. This wide-ranging presence has enabled Abbott to establish a solid footing against competitors, making it a key player in the healthcare industry.

Despite a slight decline in its stock price by 0.27% to close at $103.95, Abbott Laboratories has been navigating through market fluctuations with a keen eye on future growth. This minor dip comes in contrast to the broader market's gains, with the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite experiencing increases. Over the past month, Abbott's shares have seen a 2.46% decrease, slightly underperforming against the Medical sector's 3.27% gain and the S&P 500's 4.03% increase. This performance indicates a cautious market sentiment towards Abbott amidst broader market dynamics.

The upcoming earnings announcement from Abbott is highly anticipated, with expectations set for the company to report earnings per share (EPS) of $1.10, marking a 1.85% improvement from the same quarter last year. Revenue forecasts suggest a 3.78% year-over-year increase, with projections estimating $10.35 billion for the quarter. These figures reflect the company's consistent growth trajectory and its ability to navigate through market challenges. For the full year, earnings are anticipated to be $4.62 per share, highlighting the company's strong financial health and operational efficiency.

Wall Street analysts, including those from Zacks Investment Research, have expressed a favorable outlook on Abbott, with an average brokerage recommendation (ABR) of 1.53, indicating a strong buy sentiment. This positive sentiment is supported by the analysis of 19 brokerage firms, with a significant majority rating the stock as a Strong Buy. This consensus among analysts underscores confidence in Abbott's growth prospects and its ability to deliver value to its shareholders.

Abbott Laboratories' robust financial performance, highlighted by an interest coverage ratio nearing 25 and an AA- credit rating from Standard & Poor's, further solidifies its position as a reliable investment. The company's strong sales growth during the first quarter and its solid base business have attracted increased investor interest. With a market capitalization of roughly $175.23 billion and a trading volume of about 4.96 million shares, Abbott continues to be a significant player in the healthcare industry, offering promising growth and stability to its investors.

Other Blogs

Nov 25, 2023 6:39 AM - Parth Sanghvi

DCF Valuation vs. Comparable Companies Analysis: Choosing the Right Valuation Method

Choosing the Right Valuation Method: DCF vs. Comparable Companies Analysis Introduction: Valuation methods play a pivotal role in determining the fair value of a company, aiding investors in making informed investment decisions. Two commonly used methods, DCF Valuation and Comparable Companies A...

blog post title

Dec 23, 2023 2:19 AM - Parth Sanghvi

Understanding the Limitations of DCF Analysis: A Guide to Overcoming Challenges

Introduction: Discounted Cash Flow (DCF) analysis stands as a cornerstone in valuing investments, yet its efficacy is contingent upon various assumptions and methodologies. While a powerful tool, DCF analysis comes with inherent limitations and challenges that investors must acknowledge to make i...

blog post title

Dec 25, 2023 2:28 AM - Parth Sanghvi

Integrating Sustainability into Valuations: Navigating ESG Factors within the Discounted Cash Flow (DCF) Model

Introduction: The investment landscape is undergoing a profound shift with a heightened emphasis on sustainability and responsible investing. In this blog post, we explore the intersection of Environmental, Social, and Governance (ESG) considerations within the Discounted Cash Flow (DCF) model, h...

blog post title
FMP

FMP

Financial Modeling Prep API provides real time stock price, company financial statements, major index prices, stock historical data, forex real time rate and cryptocurrencies. Financial Modeling Prep stock price API is in real time, the company reports can be found in quarter or annual format, and goes back 30 years in history.
twitterlinkedinfacebookinstagram
2017-2024 © Financial Modeling Prep