Street View: Abbott to continue earnings momentum into 2025 despite litigation overhang
** Abbott Laboratories ABT.N slightly lifted its annual profit forecast on Wednesday, after beating Wall Street estimates for quarterly earnings on strong demand for its continuous glucose monitors (CGMs) and other medical devices.
** Median PT of 28 brokerages covering the stock is $130 - LSEG data
MANAGEMENT COMFORTABLE WITH CONSENSUS
** Piper Sandler ("overweight," PT: $133) says it likes the set-up heading into 2025 as execution has been strong and management seems comfortable with Street numbers both on the top and bottom line
** J.P. Morgan ("overweight") says the results give it confidence in expecting another year of high-single-digit growth supported by strong performances across franchises like Structural Health, Electrophysiology, and Diabetes
** BofA Global Research ("buy," PO: $133) says the litigation overhang related to ABT's preterm infant formula will eventually go away and in the meantime ABT's EPS would move higher as it continues to execute with high-single-digit-revenue growth
** UBS Global Research ("buy," PT: $146) says the results only increased conviction in ABT's ability to sustain double digit MedTech sales growth for the foreseeable future and in turn generate high-single- digit total sales growth overall
** "The sustainability of ABT's MedTech business growth trajectory remains underappreciated"- brokerage
Reporting by Gokul Pisharody in Bengaluru
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