These Analysts Increase Their Forecasts On Abbott Laboratories After Better-Than-Expected Q3 Earnings

Core Insights - Abbott Laboratories reported third-quarter sales of $10.64 billion, a 4.9% year-over-year increase, surpassing the consensus estimate of $10.55 billion [1] - The adjusted diluted earnings per share (EPS) was $1.21, exceeding analyst expectations of $1.20 [1] - The company is well-positioned to achieve the upper end of its initial guidance for the year, with projected full-year 2024 adjusted EPS of $4.64-$4.70 [1] Financial Performance - Third-quarter sales: $10.64 billion, up 4.9% year-over-year [1] - Adjusted diluted EPS: $1.21, beating estimates of $1.20 [1] - Full-year 2024 adjusted EPS guidance: $4.64-$4.70, compared to prior guidance of $4.61-$4.71 [1] Analyst Ratings and Price Targets - Abbott shares closed at $117.82, gaining 1.5% [3] - Consensus price target for Abbott is $127.1, with a high of $143 and a low of $104 [3] - Recent analyst ratings indicate an average price target of $126.33, suggesting a 7.05% upside [3] - Morgan Stanley raised the price target from $107 to $117 while maintaining an Equal-Weight rating [3] - Piper Sandler increased the price target from $131 to $133, maintaining an Overweight rating [3]