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

Stifel analyst Rick Wise raised the firm’s price target on Abbott to $130 from $125 and keeps a Buy rating on the shares. During its earnings call, Abbott management “encouragingly” suggested that the company is well-positioned for more-of-the-same high-single-digit revenue growth and double-digit earnings growth ahead, the analyst tells investors in a research note. In particular, the firm said that CEO Robert Ford positively noted that high-single digit revenue growth 10% earnings per share growth “feels like a very reasonable starting point.” With multiple new products positioned in the high-growth Diabetes Care and Structural Heart markets, Abbott’s total medical Device portfolio seems well set up for high-end MedTech growth performance, the analyst tells investors in a research note.