We Saw Few Surprises in Abbott's Second-Quarter Results
Abbott reported second-quarter results that generally met our expectations on the top and bottom lines. However, we've modestly raised our fair value estimate to $47 per share, after slight upward adjustments to our projections for growth in cardiac rhythm management, electrophysiology, and neuromodulation products over 2017-19 thanks to new product launches and underlying growth in demand. We think Abbott's narrow moat remains intact and its trend is stable.ÂWe were pleased to see continued st...
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