Citi Maintains Sell on Abbott Laboratories

Citi is out with its report today on Abbott Laboratories ABT, maintaining Sell. In its report, Citi writes, "We rate the shares of Abbott Laboratories Sell/Medium Risk (3M). The recent string of pharmaceutical deals helps Abbott diversify some of the expected generic competition and addresses a lacking product pipeline." Citi has a $50 PT on ABT. Shares of ABT closed Monday at $51.21.