Abbott Labs (ABT) Stock Price Target Raised at Barclays

Abbott’s (ABT) stock price target was increased to $50 from $48 at Barclays following the company’s 2016 second quarter results.
By Kaya Yurieff ,

NEW YORK (TheStreet) -- Abbott Laboratories (ABT) - Get Report stock price target was upped to $50 from $48 at Barclays. The firm has an "overweight" rating on shares.

The higher price target comes after the Abbott Park, IL-based company posted better-than-expected results for the 2016 second quarter yesterday.

The healthcare company reported earnings of 55 cents per share, above analysts' estimates of 53 cents per share.

Revenue came in at $5.3 billion, higher than Wall Street's forecasts of $5.24 billion.

"We view this as a good quarter for ABT and a positive result relative to expectations," Barclays wrote in an analyst note.

"ABT left guidance unchanged, reaffirming a range of $2.14-$2.24 in EPS for the year, which we think is due to some conservatism and some additional FX headwinds in the 2H," the firm added.

Shares of Abbott are increasing 0.59% to $42.90 in pre-market trading on Thursday.

Separately, TheStreet Ratings Team has a "Hold" rating with a score of C+ on the stock.

The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, largely solid financial position with reasonable debt levels by most measures and expanding profit margins.

But the team also finds weaknesses including deteriorating net income, weak operating cash flow and a generally disappointing performance in the stock itself.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: ABT

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