Abbott initiated with an Outperform at Oppenheimer

Oppenheimer initiated coverage of Abbott with an Outperform rating and $130 price target The firm calls Abbott a “large-cap diversified healthcare play.” Abbott “is a tale of two cities” – an attractive medical technology portfolio, currently at 45% contribution to global sales of $42B growing at 11%-13% annually, and a non-MedTech operation with low- to mid-single-digit growth due to litigation overhang on the pediatric nutrition business and COVID-19 diagnostics sales tailing off, the analyst tells investors in a research note. As these non-MedTech headwinds subside, Abbott’s compares become easier in fiscal 2026, and its sales growth should tick up to low-double-digits, along with EBIT margins, contends Opco.