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Summary

Abbott Laboratories trades at a decade low of 17.7x forward earnings despite 13.2% Q1 2026 Medical Devices growth and a 54-year dividend streak.

Three underappreciated catalysts—Exact Sciences synergy, CMS CGM expansion, and Nutrition margin recovery—could drive $1.27–$1.73 incremental EPS by 2028–2029.

Consensus underestimates ABT’s commercial leverage, with distribution synergies and CMS reimbursement expansion offering asymmetric upside not priced into current models.

I assign ABT a BUY rating, with a 12-month price target of $126 and multi-year intrinsic value above $150, supported by strong cash flow and dividend growth.

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Investment Thesis

Abbott Laboratories ( ABT ) trades at 17.7x forward earnings, the lowest valuation multiple in a decade , a decade-low multiple on a franchise that delivered 13.2% Medical Devices growth in Q1 2026, its

Analyst’s Disclosure: I/we have no stock, option or…