New York, April 18 (FinanceEnquiry.com) – Analyst Herman Saftlas at S&P Capital IQ keeps his BUY rating on the shares of Abbott Laboratories (NYSE: ABT). The 12-month target price is set to $68.
In a research note published today, the analyst states that Q1 non-GAAP EPS of Abbott Laboratories went up 13% to $1.03, beating the estimate of $0.99. The beat to better gross margins, strong sales of nutritionals of more than 10.1% and Humira of above 17% are attributed.
Regardless of assumed negative forex, continued top line growth and margin improvement over the balance of the year are estimated. The 2012 EPS estimate is lifted $0.05 to $5.05, the analyst adds. Moreover, the shareholder value is also seen being boosted by the scheduled spin-off of the pharmaceuticals unit later this year.
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