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Published on 9/14/2005 in the Prospect News Biotech Daily.

Abbott reiterated by Bear Stearns at outperform

Abbott Laboratories was reiterated by Bear Stearns analyst Rick Wise at an outperform rating with a price target on the stock of $54 per share, despite the FDA panel vote to reject its new prostate cancer drug Xinlay. Bear Stearns still expects double-digit EPS growth. Abbott shares Wednesday were down $0.81, or 1.81%, at $43.85 on volume of 4,923,700 shares versus the three-month running average of 3,612,160 shares.


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