Abbott Laboratories: Mizuho Keeps Neutral Rating, Raises PT to $140 from $130

Abbott Laboratories: Mizuho Keeps Neutral Rating, Raises PT to $140 from $130

In a recent development, Mizuho Financial Group has revised its price target for Abbott Laboratories (NYSE: ABT) to $140, up from its previous estimate of $130. The change in price target comes with the analyst maintaining a Neutral rating on the healthcare giant. This update was announced amidst the anticipation of Abbott Laboratories' earnings report, scheduled for Thursday morning [1].

Mizuho's move follows a mixed bag of analyst ratings and price targets for the company. While some analysts have raised their price targets, others have maintained their neutral or downgraded positions. For instance, Morgan Stanley has increased its price target for Abbott Laboratories to $137 from $127, maintaining an Equal-Weight rating [1]. This indicates a cautious optimism among some analysts, despite the company's recent mixed earnings performance.

Investors should keep an eye on Abbott Laboratories' earnings report, as the company is expected to report revenues of $11.05 billion and adjusted earnings per share of $1.26, representing a 6.5% year-over-year increase in revenue and a beat on EPS estimates [2]. The company's stock price has been relatively stable in the lead-up to earnings, with shares down 2.2% on average over the last month.

Mizuho's revised price target suggests that while the company's fundamentals are strong enough to warrant a neutral rating, there may be some uncertainty surrounding its recent performance and future prospects. Investors should closely monitor the earnings report and any subsequent analyst reactions to gauge the impact on Abbott Laboratories' stock price.

References:
[1] https://www.benzinga.com/analyst-stock-ratings/price-target/25/07/46414893/meta-to-rally-around-8-here-are-10-top-analyst-forecasts-for-tuesday
[2] https://finance.yahoo.com/news/abbott-laboratories-abt-q2-earnings-030335400.html