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Fly News Breaks for January 6, 2020
Jan 6, 2020 | 16:39 EDT
RBC Capital analyst Randall Stanicky initiated coverage of AbbVie with a Sector Perform rating and $86 price target, stating that he is cautious following a 41% run-up in the stock since the middle of August. The deal for Allergan does not fully address the loss of exclusivity for Humira, though he will acknowledge that management has potential to unlock value prior management did not.
News For ABBV From the Last 2 Days
Feb 18, 2020 | 07:04 EST
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.