Want Growing Passive Income? This Dividend King Could Be a Smart Buy
More than three years after deeming COVID-19 a global health emergency, the World Health Organization ended the pandemic's special status in May.
This was certainly welcome news for numerous industries that were hit hard by the pandemic, such as leisure and hospitality, food services, and retail. But for COVID-19 test makers like Abbott Laboratories (NYSE: ABT), a drop in test demand has weighed on the stock so far in 2023. Shares have shed 5% during that time as the broader markets have rallied.
However, Abbott is down but not out. Let's check out why the Dividend King with a 51-year dividend growth streak could be a savvy buy for income investors.
Source Fool.com
Abbott Laboratories Stock
€95.98
-0.980%
Abbott Laboratories is currently one of the favorites of our community with 19 Buy predictions and no Sell predictions.
With a target price of 116 € there is a positive potential of 20.86% for Abbott Laboratories compared to the current price of 95.98 €.
