HSBC Downgrades AbbVie to Hold, Lowers Price Target to $156
Portfolio Pulse from Benzinga Newsdesk
HSBC analyst Rajesh Kumar has downgraded AbbVie (NYSE:ABBV) from Buy to Hold and reduced the price target from $167 to $156.

December 18, 2023 | 12:28 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
AbbVie's stock rating has been downgraded by HSBC from Buy to Hold, with a lowered price target from $167 to $156.
The downgrade from Buy to Hold by a major financial institution like HSBC suggests a more cautious outlook on AbbVie's stock, which could lead to a negative short-term reaction in the market. The reduction in the price target further reinforces the expectation of a lower valuation, potentially influencing investor sentiment and stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100