RBC Capital analyst Trung Huynh initiated coverage of AbbVie (ABBV) with an Outperform rating and $260 price target The shares have underperformed on concerns AbbVie’s “beat-and-raise” story is over and competition threatens its immunology growth, the analyst tells investors in a research note. RBC disagrees, saying AbbVie is still in early in indication expansion. It sees continued outperformance for the shares.
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