Abbott Laboratories (ABT)' Device, Dx Biz Poised for Growth After Spin-Out Finalizes; Analysts
9/21/2012 9:02:03 AM
Analysts on Wall Street are divided in their assessments of Abbott's prospects after it spins out its branded pharmaceuticals business. Wall Street analysts are by and large predicting good things for Abbott (NYSE:ABT) after it spins out its branded pharmaceuticals division, to be named AbbVie, early next year. But, although some are decidedly bullish on ABT, others are taking a more cautious approach until more is known about the structure of the deal. Jeffrey Holford, an analyst for Jefferies & Co., boosted his price target on the stock from $75 to $85 this week, telling investors that post-split Abbott is poised for "exceptional growth," according to The Associated Press. Abbott is Holford's top pick for the rest of the year, rated at "buy," the news service reported.