We recently published a list of 10 Stocks Jump, Defy Market Uncertainties on Thursday. In this article, we are going to take a look at where Abbott Laboratories (NYSE:ABT) stands against other stocks that jumped, defying market uncertainties on Thursday.
The stock market extended losses on Thursday, with all the major indices ending in the red as investors continued to sell off positions to minimize risks from the ongoing trade tensions globally.
The tech-heavy Nasdaq fell the hardest, down 0.53 percent, followed by the Dow Jones at 0.37 percent, and the S&P 500 at 0.33 percent.
The broader market decline was mainly weighed down by shares in automakers following President Donald Trump’s announcement of a 25-percent tariff on all vehicles imported to the US.
Meanwhile, 10 companies defied a broader market pessimism amid fresh company developments that buoyed buying appetite. Two gold miners were particularly notable as investors sought safer assets amid the economic uncertainties.
In this article, we listed Thursday’s 10 best performers and detailed the reasons behind their gains.
To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5 million in trading volume.
An operating room with a doctor monitoring a patient’s vital signs during surgery with a medical device.
Abbott Laboratories extended its rally for a second day, ending Thursday’s trading higher by 3.74 percent at $131.35 each as investor sentiment was fueled by a rating upgrade from an investment firm.
On Thursday, analysts from Oppenheimer gave the company an “outperform” rating and a price target of $134, a 2-percent upside from ABT’s last closing price.
Oppenheimer said its rating was buoyed by ABT’s receiving of the CE Mark in Europe for its Volt PFA catheter, a treatment for patients battling atrial fibrillation.
With the earlier-than-expected CE Mark, Abbott has begun commercial PFA cases in the EU with physicians who have already gained experience with the Volt PFA System within Abbott’s PFA clinical studies. The company will further expand the use of Volt in EU markets throughout the second half of the year.
According to Oppenheimer, the early CE Mark approval may suggest a potential for the US Food and Drug Administration approval to align with the earlier end of the projected timeline.
ABT expects to secure the CE Mark for the catheter in the United States between this year and 2026.
Overall, ABT ranks 8th on our list of stocks that jumped, defying market uncertainties on Thursday. While we acknowledge the potential of ABT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as ABT but trades at less than 5 times its earnings, check out our report about the cheapest AI stock
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2025-03-28 08:27:22
