Barclays Bank analyst Matt Miksic released a research report saying that maintaining a positive interest in Abbott (NYSE:ABT) with an increased price target of $122 from $114. Miksic noted that while the macro backdrop remains challenging for the medical supplies and equipment industry, and the timing of inflationary pressures, supply chain issues and hospital staffing challenges is not yet clear, Miksic remains optimistic about the industry overall, believing that future product sales trends in the industry will improve, industry staffing is gradually stabilizing, and supply chain and inflation cost issues will also stabilize.
Miksic said it will continue to be bullish on Abbott’s stable operating leverage and tailwind prospects for the company’s future. It said the company will have the ability to attract market capital and operate to achieve higher market valuations.