Cantor Fitzgerald lowered the firm’s price target on AbbVie (ABBV) to $240 from $250 and keeps an Overweight rating on the shares ahead of the Q1 report. The firm does not expect the Q1 earnings season to “dramatically reinvigorate” the large-cap pharma sector. Cantor sees a “relatively favorable setup” for AbbVie shares, saying investor sentiment is “as bad as we can remember in more than two years.”
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