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Fly News Breaks for July 13, 2017
ABT, DXCM
Jul 13, 2017 | 10:43 EDT
Canaccord analyst Kyle Rose said it is "hard not to view today's news" of a partnership with Bigfoot Biomedical as a big win for Abbott (ABT) and a disappointing loss for incumbent partner Dexcom (DXCM). While the loss of Bigfoot is unlikely to fundamentally impact Dexcom over the near term, Rose thinks investors will view it negatively since this news eliminates a potentially key pump partner for Dexcom and give's Abbott's Libre strategy a "strong backing," he tells investors. The analyst has a Buy rating and $90 price target on Dexcom shares.
News For DXCM;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".
