Abbott Laboratories "top pick"

06/06/05 - RBC Capital Markets

NEW YORK, June 6 (newratings.com) - Analyst Phil Nalbone of RBC Capital Markets maintains his "top pick" rating on Abbott Laboratories (ABT). The target price is set to $55.

In a research note published this morning, the analyst mentions that a federal judge has granted preliminary injunction against Teva's generic version of Biaxin XL. Abbott Laboratories is likely to benefit from the injunction, since this would keep Teva's generic version of Biaxin XL away from the US market during the period of the trial, which is expected to take a year, the analyst says. The company recently received FDA approval for its Oral Zemplar, RBC Capital Markets adds.