On July 24, Abbott Laboratories rose 3.03% in regular trading, trading at $103.81/share, with turnover of $296 million. The stock continues to benefit from a wave of analyst target price upgrades following its better-than-expected second-quarter results.

The sustained momentum stems from Abbott's Q2 performance, in which the company reported revenue of $12.59 billion, up 13% year-over-year, and adjusted EPS of $1.31, both exceeding consensus estimates of $12.50 billion and $1.28, respectively. Management simultaneously raised full-year adjusted earnings guidance to $5.45-$5.60 per diluted share, above the prior range. Multiple Wall Street firms have since lifted their price targets: JPMorgan raised to $120 from $110 maintaining Overweight, Leerink Partners adjusted to $109 from $106, Citigroup raised to $112 from $108, and Wells Fargo increased to $112 from $109. The average analyst target now stands at approximately $118.86 with an Overweight consensus rating. Additionally, the company launched its first powdered oncology medical nutrition product in the Chinese market, further broadening its product portfolio.

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