Abbott price target raised to $146 from $143 at UBS

UBS raised the firm’s price target on Abbott to $146 from $143 and keeps a Buy rating on the shares. Abbott’s modest sales and EPS beat increases the firm’s conviction in the company’s ability to sustain double digit MedTech sales growth for the foreseeable future and high single digit total sales growth overall, the analyst tells investors in a research note. UBS believes the sustainability of Abbott’s MedTech business growth trajectory remains underappreciated, and says Abbott remains a top-tier high single digit/low double digit sales growth opportunity.