Bear Stearns reiterates Abbott at outperform

Abbott Laboratories was reiterated at outperform with a $51 price target by Bear Stearns analyst Rick Wise following an analyst-hosted dinner with Abbott senior management. According to management, Humira seems to be gaining share (nearing 20%) on strong clinical data in the overall anti-TNF market. In consideration of four new indication approvals likely next year and a more convenient delivery system, the analyst estimates Humira sales of $2.6 billion by the end of 2007. Fiscal-year 2007 sales estimates may prove to be conservative. Shares of the Abbott Park, Ill.-based biopharmaceutical company were down 4 cents, or 0.34%, at $43.65 on volume of 3,398.900 shares versus the three-month running average of 4,390,220 shares. (NYSE: ABT)

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