Why Wall Street Is Becoming Even More Bullish About This Dividend King
Analysts keep raising their price targets on this 54-year dividend raiser. Here are the reasons behind the newfound confidence.
Overview
A Dividend King is a company that's raised its dividend for at least 50 years consecutively. Abbott Laboratories (NYSE: ABT), for example, is one such company, having raised its dividend for 54 straight years. But that's not really why Wall Street is bullish on the stock. It's that Abbott is proving it can increases earnings faster than expected, thanks to its Medical Devices segment picking up steam. That's great news for income investors.
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Abbott's second-quarter 2026 earnings gave investors a good reason to be bullish. Sales rose 13% to about $12.6 billion, while adjusted earnings per share (EPS) rose to $1.31. The healthcare company also raised full-year adjusted EPS forecast to $5.45 to $5.60, while keeping comparable sales growth projections at 6.5% to 7.5%.
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Originally published at www.fool.com.