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Fly News Breaks for February 18, 2020
ABBV, AGN
Feb 18, 2020 | 07:04 EDT
Cowen analyst Steve Scala raised his AbbVie (ABBV) EPS estimates for 2020-2022 following the company's better than expected Q4 results and standalone guidance along with the "solid" Q4 report from Allergan (AGN). The analyst, who now assumes the Allergan acquisition closes on March 31, views AbbVie shares as compelling given growth prospects, management's ability to deliver, and the current multiple. He keeps an Outperform rating on AbbVie and raised his price target on the shares to $105 from $98.