Abbott Labs (ABT) PT Lowered to $155 at Citi

Citi analyst Joanna Wuensch lowered the price target on Abbott Labs (NYSE: ABT) to $155.00 (from $157.00) while maintaining a Buy rating.

The analyst comments "This was a somewhat precarious setup for ABT heading into the quarter, priced for a beat-and-raise, which did not materialize. Sales of $11.14B increased 7.5% y/y organic ex-Covid, driven by a beat in Medical Devices and EPD, with EPS of $1.26 a penny above consensus. Despite what we viewed as an acceptable quarter, particularly Medical Devices, increased headwinds in China Diagnostics and weaker anticipated Covid-19 sales led 2025 guidance lower. Organic sales growth guidance declined to 7.5-8.0% from 7.5-8.5%, and EPS narrowed to $5.10-$5.20 from $5.05-$5.25, erasing the high end and versus consensus’s $5.16. There were several guidance puts and takes, which create uncertainty, with lower anticipated tariff headwinds and easing FX balanced by reduced Diagnostics sales. Overall, with ABT trading at 23x 2026 EPS, guidance did not clear the hurdle leading to the stock pull-back and, we believe, creating an entry point. We reiterate our Buy on ABT."

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