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Fly News Breaks for August 7, 2018
ABT, SRDX
Aug 7, 2018 | 09:35 EDT
Needham analyst Mike Matson raised his price target on Surmodics (SRDX) to $74 and kept his Buy rating after its Q3 earnings beat and raised FY18 outlook. The analyst anticipates accelerating revenue growth with more upside to consensus estimates coming from the company's new products such as the .014'' and .018" balloon dilation catheters and Telemark microcatheter, along with its deferred revenue associated with the Abbott (ABT) agreement milestones.
News For SRDX;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".
