On July 17, Abbott Laboratories rose 3.03% in regular trading, trading at $101.41/share, with turnover of $591 million. The continued upside was driven by multiple Wall Street investment banks raising their price targets on the stock following better-than-expected Q2 results.

Specifically, Citigroup raised its target price on Abbott from $108 to $112, while Wells Fargo lifted its target from $109 to $112. According to FactSet, the stock carries an average analyst rating of overweight with a mean price target of $115.86. The upgrades extend the positive momentum from July 16, when Abbott reported Q2 revenue of $12.593 billion, up 13% year-over-year and above the consensus estimate of $12.497 billion. Adjusted EPS came in at $1.31, beating the $1.28 estimate. The company simultaneously raised its full-year adjusted EPS guidance to $5.45-$5.60, up from the prior range of $5.38-$5.58, signaling confidence in accelerating growth in the second half. The strong results marked a reversal from Q1, when the company had cut guidance due to soft diabetes product sales and short-term financial pressure from its approximately $21 billion acquisition of Exact Sciences.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)