Abbott Laboratories

Abbott Laboratories (NYSE: ABT) is an international healthcare company. Its range of technologies covers various healthcare sectors, offering products and services in diagnostics, medical devices, nutrition, and branded generic medications. The company's divisions consist of Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices.

As per our previous US Inflation Report published on ‘ABT’ on 24^th May 2024, Kalkine provided an ‘Buy’ stance on the stock at USD 104.23 based on fundamental analysis and the stock price has now moved by ~22.74% since then and has breached resistance 2.

Noted below are the details of support and resistance levels provided in our previous report:

ABT’s Daily Chart

Abbott's sales and earnings were negatively impacted by a significant drop in demand for COVID-19 tests, as the pandemic transitioned to an endemic phase. Additionally, the discontinuation of the ZonePerfect® product line in the Nutrition business affected growth rates. Although the company achieved strong performance overall, the decline in COVID-19 testing and product line changes created challenges for the underlying business growth.

Considering the target level attainments and increasing volatility over global equity market a ‘Sell’ rating is assigned to the ‘ABT’ at the closing market price of USD 127.93 as of January 31, 2025. 

Note: This report may be updated with details around fundamental and technical analysis, price chart in due course, as appropriate.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is Jan 31, 2025. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Target Price refers to a price level that the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the New York Stock Exchange (NYSE), NASDAQ Capital Markets (NASDAQ), and or REFINITIV. Typically, all sources (NYSE, NASDAQ, or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.