Abbott Labs price target cut by Bear Stearns

Abbott Laboratories was maintained by Bear Stearns analyst Rick Wise at an outperform rating but the price target on the stock was reduced to $51 per share from $54 on Baxter International Inc.'s win in a lawsuit to market a generic version of the anesthetic Ultane. Bear Stearns reduced Ultane sales estimates for Abbott Labs and its 2006 EPS targets as well. Abbott Labs shares Monday were down $1.56, or 3.53%, at $42.66 on volume of 9,422,100 shares versus the three-month running average of 3,961,960 shares.

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