Citi Reiterates Buy Rating on Abbott Labs (ABT)

Citi analyst Joanna Wuensch reiterated a Buy rating and $127.00 price target on Abbott Labs (NYSE: ABT).

The analyst comments "Management provided an update on its PFA portfolio, including an earlier-than-anticipated enrollment completion of its VOLT-IDE study. The VOLT-IDE study will support FDA approval of management’s single-shot PFA system Volt which we believe is now positioned for a 2026E regulatory clearance given today’s update. Additionally, management announced the commencement of the FOCALFLEX trial evaluating the company’s TactiFlex Duo dual energy RF-PFA catheter in paroxysmal patients and it expects to shortly launch the FLEXPULSE IDE trial in the U.S., covering ~200 patients at 20 sites. While timelines do not seem materially altered, we view today’s announcement as incrementally positive particularly as other incumbents are advancing their own portfolio of PFA solutions. We still expect Medtronic to be first to the U.S. market with a dual energy catheter with the Sphere-9 catheter which is currently sitting with the FDA. We rate ABT Buy and MDT Neutral."

For an analyst ratings summary and ratings history on Abbott Labs click here. For more ratings news on Abbott Labs click here.

Shares of Abbott Labs closed at $115.95 yesterday.

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