Abbott Laboratories: Stabilizing Fundamentals, Building 2027 Momentum; Revisiting the Setup for 2Q26 and Beyond

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Abbott Laboratories: Stabilizing Fundamentals, Building 2027 Momentum; Revisiting the Setup for 2Q26 and Beyond

J P M O R G A N North America Equity Research

29 June 2026

Abbott Laboratories

Stabilizing Fundamentals, Building 2027 Overweight

Momentum; Revisiting the Setup for 2Q26 and ABT, ABT US

Beyond Price (26 Jun 26):$94.12

Price Target (Dec-26):$110.00

Heading into 2Q26, we see Abbott as one of the more interesting large-cap Medical Supplies & Devices

ACMedTech setups - few companies offer accelerating sales growth in 2H26 and Robbie Marcus, CFA

2027and as robust a new product launch cycle as Abbott does. We think Abbott can (1-212) 622-6657

deliver small upside to comparable sales growth and EPS vs the Street at ~4.4% and robert.j.marcus@jpmorgan.com

$1.28, respectively, and in a tape where expectations have been reset lower, this Lilia-Celine B Lozada

should be enough to help stabilize numbers and reduce the overhang from negative (1-212) 622-1019

revisions. To be clear, a decent 2Q likely doesn’t flip the narrative overnight, but lilia-celine.b.lozada@jpmchase.com

it can reopen the conversation around a pipeline that’s building momentum and a Allen Gong

credible path to accelerating organic growth into 2027, something that has become (1-212) 622-9520

allen.gong@jpmorgan.com

increasingly scarce as quality has deteriorated across large-cap MedTech and

Henry Householterinvestors search for names that can work from here. In that context, we think

(1-212) 464-5599

Abbott’s upcoming catalysts are underappreciated, led by Volt in PFA (where early henry.householter@jpmorgan.com

physician feedback and Abbott’s mapping installed base create a real share-capture J.P. Morgan Securities LLC

opportunity, see here), the launch of Amulet 360 (which should strengthen the