Market Waking Up to Abbvie's (ABBV) Strong Pipeline - Jefferies
Get Alerts ABBV Hot Sheet
Price: $182.10 +0.97%
Rating Summary:
20 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
Rating Summary:
20 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
Join SI Premium – FREE
Jefferies raised its price Abbvie (NYSE: ABBV) from $50 to $51 following Q1 results saying the market is finally waking up to the pipeline.
Analyst Jeffrey Holford, PhD notes, "The Q1'13 earnings call, recent commentator notes and the buy-side are all showing a sudden shift in sentiment on AbbVie, recognizing that it has a significant pipeline."
He continued, "Concerns on Humira's durability are also diminishing with biosimilar efforts faltering and Xeljanz failing to make an impact. The multiple could meaningfully expand now if R&D catalysts play out positively."
The firm raised FY 2013 EPS estimates from $3.11 to $3.12, while FY 2014 was trimmed from $3.21 to $3.20.
For an analyst ratings summary and ratings history on Abbvie click here. For more ratings news on Abbvie click here.
Shares of Abbvie closed at $45.23 yesterday.
Analyst Jeffrey Holford, PhD notes, "The Q1'13 earnings call, recent commentator notes and the buy-side are all showing a sudden shift in sentiment on AbbVie, recognizing that it has a significant pipeline."
He continued, "Concerns on Humira's durability are also diminishing with biosimilar efforts faltering and Xeljanz failing to make an impact. The multiple could meaningfully expand now if R&D catalysts play out positively."
The firm raised FY 2013 EPS estimates from $3.11 to $3.12, while FY 2014 was trimmed from $3.21 to $3.20.
For an analyst ratings summary and ratings history on Abbvie click here. For more ratings news on Abbvie click here.
Shares of Abbvie closed at $45.23 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Midday movers: RH, Estee Lauder rise; Tesla falls
- Canaccord Genuity Reiterates Buy Rating on Aptose Biosciences (APTO)
- UPS (UPS) PT Lowered to $150 at HSBC, 'on lower multiple to reflect continued de-rating'
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
Jefferies & Co, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!