Abbott price target raised to $130 from $125 at Citi

Citi analyst Joanne Wuensch raised the firm’s price target on Abbott to $130 from $125 and keeps a Buy rating on the shares after its Q1 earnings beat. The analyst states that the quarter defied its prior pattern of trading down on results with a strong MedTech delivery and acknowledgement of easing Covid-19 sales that provide a healthy tailwind. The waning Covid-19 diagnostic headwinds are receding, and Abbott is positioned for normalized operating margin with an improving base business, the firm tells investors in a research note.