Abbott Laboratories (ABT) NewsBite - ABT Rises on Outperform Rating

Posted: Thursday, November 12, 2009 2:17 PM EDT

Abbott Laboratories (NYSE: ABT) opened at $53.39. So far today, the stock has hit a low of $53.01 and a high of $53.80. ABT is now trading at $53.23, down $0.04 (-0.08%). Over the last 52 weeks the stock has ranged from a low of $41.27 to a high of $57.39. Wedbush Morgan initiated ABT at Outperform this morning, giving the stock a $62 price target. Technical indicators for the stock are bullish and S&P gives ABT a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on ABT the stock seems like it could be a candidate for a February out-of-the-money bull-put credit spread below the 48 range. [ABR-Seven Summits Strategic Investments NewsBite]

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