Abbvie (ABBV) PT Raised to $126 at Mizuho Securities

Mizuho Securities analyst Vamil Divan raised the price target on Abbvie (NYSE: ABBV) to $126.00 (from $117.00) while maintaining a Buy rating.

The analyst commented, "We continue to see ABBV as a Top Pick in large cap biopharma given the mix of strong volume-driven near-term growth, good visibility on its mid-long term outlook, a robust dividend and reasonable valuation as compared to its peers. 4Q 2020 results showed the strength of key AbbVie products such as Humira, Skyrizi and Rinvoq, as well as legacy Allergan assets such as Botox Cosmetics, Juvederm, Vraylar and Ubrelvy. Expectations for continued solid top-line performance, along with $1.1Bn in Allergan synergies, contribute to our estimates increasing for FY 2021 and beyond, and our price target increasing to $126 (from $117). We reiterate our Buy rating."

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