AbbVie's Promising Leap Towards Long-Term Growth: Analyst
Portfolio Pulse from Vandana Singh
Raymond James has initiated coverage on AbbVie Inc (ABBV) with an Outperform rating and a price target of $177. The analysts believe that ABBV is showing resilience and adaptability, successfully navigating the U.S. loss of exclusivity for Humira and surpassing initial projections. They anticipate a resurgence of mid- to high-single-digit growth in both the top and bottom lines by 2025. ABBV's strategic outlook is intertwined with proactive mergers and acquisitions, and the market can expect increased M&A activity over the next 6-18 months.
September 29, 2023 | 5:37 pm
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Raymond James has initiated coverage on AbbVie with an Outperform rating and a price target of $177. The company is expected to show resilience and adaptability, with increased M&A activity over the next 6-18 months.
The positive coverage from Raymond James, along with the expected increase in M&A activity, could lead to increased investor interest in AbbVie. This, combined with the company's resilience and adaptability, could have a positive impact on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100