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Abbott Labs Started as a “Buy” at Jefferies (ABT)

Healthcare products maker Abbott Laboratories ( ABT ) on Tuesday saw its coverage started with a "Buy" rating by analysts at Jefferies & Co.

The firm also set a $60 price target on ABT shares, suggesting a 15% upside to the stock's Monday closing price of $51.99.

A Jefferies analyst commented, "Abbott carries an unwarranted discount versus its peers that undervalues the depth and breadth of the company's broad portfolio of products. Fears of new competition to Humira are overdone, in our view, and have clouded investors' ability to appreciate the company's growth potential. We see numerous R&D catalysts and above-consensus revenue and EPS projections which should unlock significant value over the next 12 months."

Abbott Labs shares were unchanged in premarket trading Tuesday.

The Bottom Line

We have been recommending shares of Abbott Labs ( ABT ) since Feb.18, 2011, when the stock was trading at $46.32. The company has a 3.69% dividend yield, based on last night's closing stock price of $51.99.

Abbott Laboratories ( ABT ) is a "Recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.6 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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