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Abbott (ABT) Stock Rises on Barclays Upgrade

NEW YORK (TheStreet) -- Abbott Laboratories (ABT - Get Report) stock is increasing by 1.73% to $40.58 in mid-morning trading on Wednesday, after the company was upgraded to "overweight" from "equal weight" at Barclays.

The firm, however, lowered its price target to $52 from $55 and reduced its 2016 earnings estimates to $2.36 per share from $2.43.

Abbott's fundamentals are strong and could lead to top-line growth, despite competition, foreign exchange and other factors, Barclays said in an analyst note.

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The pharmaceutical company also "continues to have margin opportunities from mix and operational efficiencies, especially in nutrition and diagnostics," analysts added.

Abbott has a higher than average exposure to emerging markets, as well as a large exposure to consumers due to its...