The Point for North America

研报英文原文证据摘录

The Point for North America

Point |

Monday, 04 August 2026

Morning Call Highlights | Company | Industry | Economics & Strategy | Fixed Income & FX | Key Rating

and Target Price Changes

Morning Call Highlights Must Read

Abbott Laboratories (ABT.N) - HSKT Call Series: Setting the Stage for an North America - Road Ahead 2H26

Eventful 2027

Following a stronger-than-expected 2Q26, we hosted our HSKT call with Lisa

Earnhardt, EVP of Medical Devices at Abbott, where we parsed through its pipeline

that should position it for accelerating growth in 2H26+. The call centered on high

growth areas, highlighting clinical and commercial launches, including: 1)

launching Volt and TactiFlex Duo in Europe and expanding Volt in the U.S.

(TactiFlex Duo in the U.S. 2027E); 2) additional navigation and ancillary products

in EP, including a new ICE catheter and new introducer sheath; 3) 4Q26 FDA

approval for next-gen Amulet 360 (if not then, in 1Q27); 4) initiating several pivotal

trials, including for Cephea mitral replacement valve, balloon-expandable TAVR

valve, Aveir conduction system pacing (CSP), and peripheral IVL; 5) OUS launch of

dual-sensing Libre Duo 2H26 and FDA approval in 2H26E; and 6) expansion of

CMS CGM coverage for Type 2 non-insulin intensive patients. We rate ABT

Buy/Top Pick.

Joanne Wuensch

Alexandria Real Estate Equities, Inc (ARE.N) - ARE Beats; Investors Likely

Focused on 4Q26 and Beyond

ARE beat Citi and the Street and tightened 2026 guidance to $6.35 - $6.45 from

$6.30 to $6.50 (midpoint unchanged). Assumption changes totaling $30M net (SL

rent -$10M; interest expense +$20M, of which $15M is disposition-timing carry

and a $5M capitalized-interest reclass) are absorbed by the retained NOI as a

result in the 6-week shift in disposition timing.