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Fly News Breaks for April 29, 2016
ABT, ALR
Apr 29, 2016 | 08:17 EDT
Canaccord noted that Alere (ALR) denied Abbott's (ABT) request to terminate its merger after Abbot expressed serious concerns about the accuracy of various representations, warranties, and covenants made in their merger agreement. Alere stated there was no basis for a termination and Abbott affirmed its commitment to abide by its obligations, but Canaccord now sees a higher possibility of the deal breaking up altogether. Canaccord maintained its Hold rating and lowered its price target on $44 from $46 on Alere shares.
News For ALR;ABT From the Last 2 Days
ABT
Apr 18, 2024 | 21:44 EDT
ABT
Apr 18, 2024 | 09:14 EDT
RBC Capital lowered the firm's price target on Abbott to $125 from $128 but keeps an Outperform rating on the shares. The analyst states that despite a strong Q1 with 10.8% underlying revenue and double-digit EPS growth, the stock was down 3%, which reflects sentiment on the broader MedTech space, where high expectations require a beat and raise for stocks to be rewarded. RBC maintains however that it sees upside potential for Abbott "as 2024 drivers take hold".
