Abbott Laboratories' (NYSE: ABT) October price plunge is a signal to buy, as analyst and institutional trends suggest they, too, will be buying the stock. Analyst trends revealed by MarketBeat data include increasing coverage with newly initiated ratings appearing within days of the Q3 earnings release. Coverage is rising, sentiment has firmed over the preceding two quarters, and the price targets are rising.
The consensus forecast a 10% gain ahead of the release, sufficient for a new all-time high, while the high-end range adds another 10%.
