ABT - Abbott Laboratories: Why I Agree With Wall Street On This One
2024-06-04 00:39:47 ET
Summary
- Wall Street analysts have a 'strong buy' rating on ABT stock, with 12 out of 24 analysts giving it this rating in the last 90 days.
- We agree with such bullish sentiment.
- Despite some risks, ABT stock has the potential to outperform the overall market by a large margin.
- The key return drivers include its strong growth potential, high ROCE, and a discounted valuation.
ABT stock: Wall Street loves it
Readers following our writing know that we are contrarian investors and we usually bet against Wall Street ratings. However, in the case of Abbott Laboratories ( ABT ) stock, we found ourselves in agreement with Wall Street. More specifically, the chart below summarizes the current sentiment on ABT stock from Wall Street analysts (and Seeking Alpha writers too). As seen, Wall Street analysts have a 'strong buy' rating on the stock, with 12 out of 24 analysts giving it this rating in the last 90 days. The overall rating is 4.25. Seeking Alpha writers' ratings are a bit less enthusiastic, but the overall score is a 4.0 and points to a solid buy also....
Abbott Laboratories: Why I Agree With Wall Street On This One