Abbott (ABT) Stock: $150 Price Target And Overweight Rating

By Amit Chowdhry ● Apr 11, 2022
  • The shares of Abbott Laboratories (NYSE: ABT) have received a $150 price target from Wells Fargo. These are the details.

The shares of Abbott Laboratories (NYSE: ABT) have received a $150 price target from Wells Fargo. And Wells Fargo analyst Larry Biegelsen is maintaining an “Overweight” rating on the shares.

Biegelsen adjusted the rating ahead of the first-quarter results. And Biegelsen noted that beyond the U.S. Similac recall, the recent ~$1 billion U.S. Army contract for Covid tests, and greater FX headwinds due to recent currency movements, it is anticipated that the underlying Covid recovery has progressively improved throughout the first quarter since the omicron peak in January. 

Plus Biegelsen continues to believe Abbott will maintain its 2022 EPS guidance of at least $4.70. 

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