Abbvie (ABBV) Added to BofA/Merrill Lynch US 1 List
Get Alerts ABBV Hot Sheet
Rating Summary:
20 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 11 | New: 13
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BofA/Merrill Lynch analyst Colin Bristow reiterated a Buy rating on Abbvie (NYSE: ABBV), raised his price target to $65.00 (from $60.00) and added the stock to the US 1 List.
Bristow cited increased cost synergy estimates for the ABBV-Shire deal and increased peak sales estimates for ABBV's late-stage Hepatitis C (HCV) regimen.
The firm is raising their cost synergy estimates to 22.5% from the Shire deal, which they said could still understate what is achievable. The firm is increasing peak sales estimates for ABBV’s late-stage HCV regimen (we expect approval in December) to $3.5bn (from $2bn).
The firm raised FY 2015 EPS from $3.77 to 44.20 and FY 2016 EPS from $4.26 to $4.96.
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 $54.05 yesterday.
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