Abbott Laboratories "buy"

06/06/05 - Banc of America

NEW YORK, June 6 (newratings.com) - Analysts at Banc of America Securities reiterate their "buy" rating on Abbott Laboratories (ABT). The target price is set to $53.

In a research note published this morning, the analysts mention that a US district court has given a preliminary injunction against the generic version of Abbott Laboratories' Biaxin XL drug by Teva. This development means that Teva would not be able to launch the generic version of the drug until a patent trial gives its verdict, the analysts say. Abbott Laboratories' is likely to generate low double-digit earnings growth in the forthcoming three years, Banc of America Securities adds.