Abbott Q2 organic growth estimated near 7% at RBC

RBC Capital analyst Glenn Novarro keeps his Outperform rating and $67 price target on Abbott Laboratories ahead of its Q2 results, saying he expects the company’s accelerated growth in its Established Pharmaceuticals segment and continued strength in Medical Devices to produce organic growth close to 7%. Novarro adds that in spite of the more challenging comps coming in the second half of this year, Abbott’s diversified portfolio performance discussed in the company’s most recent investor event in May should help it achieve organic growth of 6.5%-7.0% in FY18. The analyst recommends that investors buy Abbott stock heading into the earnings report.
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