Baird Initiates Coverage on Abbott Laboratories (ABT) Stock with Outperform Rating

Abbott Laboratories (NYSE:ABT) is one of the Best Monopoly Stocks to Buy According to Hedge Funds. On June 30, Baird initiated coverage on the company’s stock with an “Outperform” rating, setting a price objective of $121.00. The firm sees Abbott Laboratories (NYSE:ABT)’s portfolio as delivering steady top-line and earnings growth over the upcoming several years. As per [...]

Abbott Laboratories (NYSE:ABT) is one of the Best Monopoly Stocks to Buy According to Hedge Funds. On June 30, Baird initiated coverage on the company's stock with an "Outperform" rating, setting a price objective of $121.00. The firm sees Abbott Laboratories (NYSE:ABT)'s portfolio as delivering steady top-line and earnings growth over the upcoming several years.

As per the firm, the company's medical device segment is expected to see an above-peer growth trajectory. The company's diagnostics, nutrition, and established pharmaceutical offerings enhance Abbott Laboratories (NYSE:ABT)'s reach throughout the healthcare spectrum. As per the firm, there is a clearer path to upside in FY 2027 and FY 2028, with new products and indication opportunities layering in, and Exact Sciences integration and synergies contributing to the results.

In a different update, Evercore ISI analyst Vijay Kumar reduced the firm's price objective on Abbott Laboratories (NYSE:ABT)'s stock to $112 from $120 and maintained an "Outperform" rating. The firm's Q2 preview for MedTech, Life Sciences Tools, and Diagnostics demonstrates healthy procedure volumes as well as capex trends throughout the sector. Abbott Laboratories (NYSE:ABT) is engaged in discovering, developing, manufacturing, and selling health care products.

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