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Goldman Sachs Raises PT on Abbvie (ABBV) to $52

April 29, 2013 10:45 AM EDT Send to a Friend
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Price: $57.76 -1.3%

Rating Summary:
    12 Buy, 1 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 25 | Down: 20 | New: 23
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Goldman Sachs today maintained a Buy rating on Abbvie (NYSE: ABBV) and raised its price target to $52.00 (from $45.00). Analyst Jami Rubin said he had greater confidence in Humira growth and in Abbvie's pipeline.

"We estimate that in a best case scenario the late stage pipeline could add up to $6 bn in revenues by 2020, although most sell side estimates are far short of this figure. For example, key pipeline assets in Hep C, elagolix and daclizumab could generate over $5.5 bn at peak (exhibit 1) while we have only $3.3 bn in our total 2020 pipeline estimates. This does not include several products which are expected to enter Phase 3 later this year, including ABT-119," said Rubin.

For an analyst ratings summary and ratings history on Abbvie (NYSE: ABBV) click here. For more ratings news on Abbvie click here.

Shares of Abbvie closed at $45.84 yesterday.




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