Street View: Abbott's resilient fundamentals, new products to outshine headwinds
Abbott ABT.N warned on Thursday it expects more than $1 billion in financial headwinds this year from a sharp decline in COVID-19 testing demand, new U.S. tariffs and government's foreign aid freeze
The medical device giant forecast third-quarter profit below estimates
TEMPORARY CHALLENGES
J.P.Morgan ("overweight," PT: $140) views downwards growth revisions for Abbott as a one-off event rather than signs of weakening fundamentals in the business
TD Cowen ("buy," PT: $145) says ABT is on track for over 10% EPS growth this year despite hurdles and tariffs, as key fundamentals remain reliable
Piper Sandler ("overweight," PT: $150) sees potential for revenue growth next year, led by new product launches such as dual-analyte sensor, Volt U.S. launch and Alinity, as headwinds from the diagnostics business abate
Jefferies ("buy," PT: $145) says they're constructive on ABT's fundamentals and expect benefits from new product launches to overshadow existing headwinds
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