Abbott reiterated as a top pick by RBC

RBC Capital Markets analyst Phil Nalbone gave Abbott Laboratories at top pick rating with average risk and a $55 price target. The company's second-quarter sales of $5.5 billion were right in line with the analyst's $5.495 billion forecast, growing 11.8% when adjusted for the termination of the Boehringer Ingelheim distribution agreement. Humira sales were up 53% at $491 million. Earnings per share of $0.62 beat RBC's number by 4 cents and the Street by 5 cents. Shares of the Abbott Park, Ill.-based pharmaceutical company were down 1 cent, or 0.02%, at $46.27 on volume of 4,476,900 shares versus the three-month running average of 4,725,090 shares. (Nasdaq: ABT)

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