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ABBV

AbbVie

$114.33

1.25 (1.11%)

15:03
02/15/18
02/15
15:03
02/15/18
15:03

AbbVie price target raised to $138 from $130 at Piper Jaffray

Piper Jaffray analyst Christopher Raymond noted that after "an unexpected (and somewhat alarming) mid-day trading halt," AbbVie announced its board's approval of a new capital allocation plan, as the company had indicated was in the works. Following the buyback increase and dividend hike, Raymond said the dividend yield rises to an "impressive" 3.5% and he now models the company repurchasing over 105M shares between 2018 and 2020. Given the impact of the buybacks on his EPS estimates, Raymond raised his price target on AbbVie shares to $138 from $130 and he keeps an Overweight rating on the stock.

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ABBV AbbVie
$114.33

1.25 (1.11%)

01/30/18
01/30/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. AbbVie (ABBV) downgraded to Underperform from Market Perform by analyst Alex Arfaei, who said the risk/reward has "meaningfully changed" after the rise in the stock price, adding that the new focus on fundamentals beyond the benefits of tax reform suggests "significant price erosion in immunology driven by interchangeable biosimilar anti-TNFs, and lower effectiveness of the 'Rebate Trap' to block access to cheap biosimilars". 2. iRobot (IRBT) downgraded to Neutral from Buy at Sidoti by analyst Frank Camma, who cited valuation as shares approach his $98 price target. 3. Horizon Global (HZN) downgraded to Market Perform from Outperform at BMO Capital by analyst Gerrick Johnson, who said that while he still sees "strong demand in key end markets," operation execution, rising input costs, and high debt levels are concerning. The analyst added that the company may have "lost the faith of investors" after a 30% drop in the stock price following the guidance cut. 4. Yum! Brands (YUM) downgraded to Neutral from Buy at Nomura Instinet by analyst Mark Kalinowshi, who cited valuation and concerns a possible 2018 slowdown in U.S. same-store-sales. 5. Alaska Air (ALK) downgraded to Underweight from Neutral at JPMorgan by analyst Jamie Baker, who noted that the airline is the only name where he had to cut his 2019 estimates. He also believes the company "remains in the United crosshairs in San Francisco." The analyst also downgraded Southwest (LUV) to Neutral from Overweight, and said he believes better relative value exists elsewhere in the Airlines sector. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/31/18
JEFF
01/31/18
NO CHANGE
JEFF
Jefferies sees neutral impact on Biotech from State of the Union
Jefferies analyst Michael Yee sees a net neutral impact on Biotech stocks from President Trump's State of the Union speech last night. During the speech, Trump made comments about making lower drug prices a "priority" for the year, Yee tells investors in a research not titled "Drug Pricing Comments Not New or Surprising - But a Reminder of Rhetoric." The President, however, also commented on broader access to novel clinical trial drugs, Yee points out. After a "strong biotech rally" in January, the analyst assumes the sector, "at some point," will have some relative near-term pullback either on uncertainty about Trump commentary or some consolidation. Some of the analyst's Buy-rated names include AbbVie (ABBV), Amgen (AMGN), Eli Lilly (LLY) and Gilead Sciences (GILD).
02/02/18
ARGS
02/02/18
NO CHANGE
Target $145
ARGS
Buy
AbbVie price target raised to $145 from $120 at Argus
Argus analyst David Toung raised his price target on AbbVie to $145 and kept his Buy rating after a "solid" Q4 earnings report that also included a substantial boost from lower tax rates. Toung says AbbVie is likely to submit more applications for new products and expanded indications of existing drugs this year as it develops new growth drivers such as Imbruvica and Mavyret to complement the current large contribution from Humira.
02/05/18
JEFF
02/05/18
NO CHANGE
Target $25
JEFF
Hold
Acorda remains takeover candidate after competitor data, says Jefferies
Jefferies analyst Michael Yee believes the positive Phase III topline results from Acorda Therapeutics (ACOR) competitor Sunovion for APL-130277 in Parkinson's patients came in as expected. While APL-130277 data compares favorably over Inbrija's 3.92 point difference at week 12, Yee cautions to compare directly head-to-head since patient baseline characteristics could be different. Acorda remains a "reasonably likely" acquisition candidate in 2018 given its $300M-$500M-plus Parkinson's asset Inbrija, Yee tells investors in a research note. The analyst does not think Biogen (BIIB) should buy the company, but sees other potential suitors in AbbVie (ABBV), Allergan (AGN), Mitsubishi, Roche (RHHBY) and Shire (SHPG). He believes a takeover price could be north of $2B. Yee keeps a Hold rating on Acorda with a $25 price target.

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Boston Scientific

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Facebook

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SRC

Spirit Realty

$37.60

0.54 (1.46%)

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WFC

Wells Fargo

$49.32

-1.07 (-2.12%)

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$193.30

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GS

Goldman Sachs

$193.30

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FB

Facebook

$165.28

-0.19 (-0.11%)

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WDC

Western Digital

$50.60

3.43 (7.27%)

11:25
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Western Digital call volume above normal and directionally bullish »

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PEB

Pebblebrook Hotel

$32.07

0.34 (1.07%)

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BIIB

Biogen

$230.10

-90.37 (-28.20%)

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AGCO

Agco

$68.12

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IEX

IDEX Corp.

$150.73

2.31 (1.56%)

11:19
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ITGR

Integer

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$NSD

NASDAQ Market Internals

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EB

Eventbrite

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RCL

Royal Caribbean

$116.64

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11:15
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