Abbott Laboratories

New York Stock Exchange
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Bullish +70

Analysts Offer Insights on Healthcare Companies: Abbott Laboratories (ABT), Pfizer (PFE) and Wave Life Sciences (WVE)

AI-generated analysis

- 🔬 Analysts from Wells Fargo, TD Cowen, and Wedbush provided fresh insights on healthcare stocks Abbott Laboratories (ABT), Pfizer (PFE), and Wave Life Sciences (WVE).

- 🛑 Larry Biegelsen of Wells Fargo reaffirmed a Buy rating for Abbott Laboratories with a price target of $122.00, noting the stock was trading near its 52-week low.

- 📈 The general analyst consensus for Abbott remains Strong Buy with an average price target of $137.14, suggesting approximately 28% upside from current levels.

- 👔 Steve Scala of TD Cowen maintained a Hold rating on Pfizer with a price target of $30.00 while the stock closed at $26.77 last Monday.

- 🧬 Pfizer holds a Moderate Buy consensus with a price target of $29.07, implying 7.5% upside based on recent analyst reports from UBS and others.

- 🚀 Wedbush analyst Yun Zhong issued a Buy rating for Wave Life Sciences today with a price target of $35.00 despite the stock closing at $11.62.

- 💡 The broader Street consensus for Wave Life Sciences is Strong Buy, averaging a price target of $34.40 which represents a massive 184% upside from current prices.

- 🤝 Abbott Laboratories finalized its acquisition of Exact Sciences to expand its cancer diagnostics portfolio earlier this week.

- ⚠️ This article includes third-party press releases and syndicated content that has not been reviewed or endorsed by The Globe and Mail.

Bullish Signals
  • Larry Biegelsen from Wells Fargo maintained a Buy rating on Abbott Laboratories (ABT) with a price target of $122.00, indicating analyst confidence in the company's value.
  • The broader analyst consensus suggests a Strong Buy rating for Abbott Laboratories with an average price target of $137.14, implying a significant 28.1% upside potential from current levels.
  • Abbott recently finalized its acquisition of Exact Sciences to expand its cancer diagnostics portfolio, closing the deal on March 23 as planned.
  • Analysts also offer a Strong Buy consensus for Wave Life Sciences (WVE) with a $34.40 average price target, representing a massive 184.1% upside from recent trading levels.
  • Canaccord Genuity maintained a Buy rating on Wave Life Sciences with a high price target of $52.00, reinforcing the strong positive sentiment among Wall Street professionals.
Risk Factors
  • Abbott Laboratories shares are trading close to their 52-week low of $99.71, indicating significant near-term weakness despite buy ratings.
  • The recent acquisition of Exact Sciences is set to close on March 23, which may introduce integration risks and uncertainty into Abbott's operations in the coming months.
  • Analyst Steve Scala from TD Cowen has assigned a Hold rating to Pfizer, suggesting cautious sentiment regarding the stock's near-term prospects.
  • UBS also maintained a Hold rating on Pfizer with a price target of $25.00, which is below the current trading level, indicating potential downside risk.
  • Wedbush analyst Yun Zhong, who maintains a Buy rating on Wave Life Sciences, has a negative track record with a -7.0% average return and 40.1% success rate.
Full Analysis
Analysts have recently released new ratings on three healthcare companies: Abbott Laboratories, Pfizer, and Wave Life Sciences. Larry Biegelsen from Wells Fargo maintained a Buy rating on Abbott Laboratories (ABT) with a price target of $122.00. As of the report date, Abbott's shares closed last Monday at $104.85, near its 52-week low of $99.71. Biegelsen, who covers Abbott along with other healthcare stocks like Anteris Technologies Global Corp., holds a 2-star analyst rating on TipRanks.com with an average return of 0.4% and a 47.1% success rate. The general market consensus suggests a Strong Buy for Abbott Laboratories with an average price target of $137.14, implying 28.1% upside from current levels. Additionally, TipRanks upgraded the stock to Buy with a $124.00 price target in a report issued on March 10. For Pfizer (PFE), Steve Scala from TD Cowen maintained a Hold rating with a price target of $30.00, while Pfizer shares closed last Monday at $26.77. Scala is rated as a 5-star analyst by TipRanks.com with an average return of 10.6% and a 63.6% success rate; he also covers peers such as Merck & Company, GlaxoSmithKline, and Eli Lilly & Co. The broader Street consensus for Pfizer is a Moderate Buy with a price target consensus of $29.07, representing 7.5% upside. On March 10, UBS maintained a Hold rating on the stock with a lower $25.00 price target. In contrast, Wedbush analyst Yun Zhong maintained a Buy rating on Wave Life Sciences (WVE) today and set a price target of $35.00. WVE shares closed last Monday at $11.62. Zhong is ranked 0 out of 5 stars by TipRanks.com with an average return of -7.0% and a 40.1% success rate, and he also covers Sagimet Biosciences, Inc., CAMP4 Therapeutics Corporation, and MoonLake Immunotherapeutics. The overall market consensus for Wave Life Sciences is a Strong Buy with an average price target of $34.40, indicating significant potential upside of 184.1% from current levels. This contrasts with a March 10 report from Canaccord Genuity which maintained a Buy rating on the stock with a higher $52.00 price target. The article notes that this content is syndicated and has not been reviewed or endorsed by the publication, and may include compensation disclosures.