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Abbott Laboratories Message Board

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  • jak.stat jak.stat Nov 21, 2010 12:28 PM Flag

    FWIW, Cramer is buying

    Again, what you wrote is factually untrue. You confuse wishful thinking with facts.

    Tasocitinib has long ago completed Phase II and now has nearly completed Phase III.

    It is one of the THREE FACTORS that keeps ABT stock depressed, the other two are an enormous debt and JNJ lawsuit which ABT is appealing. By repating untrue statements and calling me names you cannot change the facts.

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    • There might be a link on the web to this document, but I accessed it directly from Goldman's client site.

      ABT's price is down due to Fear, Uncertainty, and Doubt (FUD) - which you, no doubt, have a stake in perpetuating. Shorts should enjoy it while it lasts.

      You won't like Goldman's opinion, but, hey, I'm just the messenger ...

      October 20, 2010
      COMPANY UPDATE
      Abbott Laboratories (ABT)
      Neutral

      ABT’s 3Q continues to show strong operating leverage

      What's changed
      ABT’s high quality earnings (better than expected gross margin of 61.6% and higher R&D spend) stood in sharp contrast to JNJ’s yesterday, and demonstrates the potential for continued strong low-double-digit operating performance going forward. However, overall sales were lower by 3% than our estimate primarily due to the Similac recall (which hit 3Q
      versus our expectations of 4Q) and the Meridia withdrawal. And while Humira sales were a bit below our expectations ($36 million), the franchise continues to demonstrate stability in the US and strong growth OUS.

      Implications
      We raise our 2010 estimate to $4.18 (prev. $4.16) due to the improved gross margin outlook and modestly raise our forecasts for 2011 EPS to $4.68 (prev. $4.66), 2012 EPS to $5.14 (prev. $5.12) and 2013 EPS to $5.67 (prev. $5.63). Clearly, we are starting to see the impact from Solvay
      synergies and expect an even bigger contribution to EPS next year. Moreover, ABT’s Vascular business continues to post strong performance driven by Xience, and appears (thus far) immune from the pressures seen across the orthopedic space from weak procedural volumes and price pressure. Bottom-line: We continue to see ABT as one of the best positioned in the sector to put up strong earnings over the next several
      years owing to Solvay and improving margins across its businesses. While we expect some headline risk with the upcoming data presentation at ACR for PFE’s JAK-3 inhibitor, the first study is a small 6-month placebocontrolled
      trial. The more important trials will not be presented until 2011.

      Valuation
      We maintain our 12-month price target of $58, based on 12.5X our 2011 EPS $4.68.

      Key risks
      Management’s ability to address dependence on Humira through M&A.

      INVESTMENT LIST MEMBERSHIP
      Neutral
      Coverage View: Neutral
      United States
      Pharmaceuticals

    • You're the one launching personal attacks because you don't care of another individual's (Cramer's) analysis. Either cover your short or stop acting like such a baby when you read an opinion that differs from your own.

 
ABT
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