Sentiment Timing Stock Watch – “Identifying Institutional Entry & Exit Levels”
Shorter Term Target: $41.30 + 6% from entry Medium Term Target: $42.96 + 10% from entry
Longer Term Target: $45.16 + 16% from entry Stop If price closes below $36.68, this could indicate a trend change
Beta: 1.34/ Forward P/E: 15.88x Medium Term Catalyst: Q4 Numbers due January 25th Average Volume (50-day): 8.4 million
The share has been pushing higher since early December (chart above), and recent weeks has seen a compelling series of higher lows (in conjunction with bullish engulfing candles), with the probability of a further break above current levels in the short term. The MACD is also nearing a cross to the upside, with the RSI also trending higher from its early November lows
• From a standalone basis ABT trades at an 11% discount to its five year average when viewed on a Price/ Book basis. Applying this discount to the current share price would imply an upside target of $43.34. ABT also benefits from an Altman Z-Score of 3.51 (a read of >3 generally indicates relatively solid underlying company financials)
• On a Peer perspective Abbott looks attractive when viewed on a Price/ Book, Price/ Sales and Price/ Cash Flow basis. The shares current dividend yield is 2.72%
• Q3 filings (released October 19th) saw total revenue ahead by 2.9% on a reported basis with diluted EPS (under GAAP) showing a $(0.24) loss, primarily due to an adjustment of $(0.66) per share
associated with the company’ equity investment in Mylan. ABT’s acquisition of St Jude is set to close January 4th
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