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.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ABBV:
- AbbVie’s Real‑World Vraylar Study in Bipolar I Disorder Reaches Completion
- AbbVie Advances ABBV-8736 With New Trial Comparing Injection Routes
- AbbVie to invest $380M in two API manufacturing facilities at Illinois campus
- Ideaya Biosciences appoints Theodora Ross as chief development officer
- AbbVie Expands IPF Pipeline With New Phase 2a Study of ABBV-142