Abbott Laboratories "top pick"

02/19/08 - RBC Capital Markets

NEW YORK, February 19 (newratings.com) - Analysts at RBC Capital Markets reiterate their "top pick" rating on Abbott Laboratories (ABT). The target price is set to $66.

In a research note published this morning, the analysts mention that the FDA has approved the company’s Simcor product. Simcor, a single-pill combination of Abbott Laboratories’s Niaspan and MRK's simvastatin, is likely to help the company to offset the adverse impact of the generic version of the Depakote drug, the analysts say. Abbott Laboratories is on track to achieving the approval for its ABT-335 product late this year, RBC Capital Markets adds.