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Fly News Breaks for November 2, 2015
ABBV
Nov 2, 2015 | 08:11 EDT
Morgan Stanley upgraded AbbVie to Overweight and raised its price target to $73 from $62 on shares. Analyst David Risinger has increased conviction in Humira patents and raised earnings and long-term growth projections to 15% from 8% following management's webcast of long-term plans and broad defense of Humira's patents. Risinger believes Humira's greater durability provides Abbvie more time to progress its own pipeline and flexibility to evolve the company.
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