AbbVie Price Target Raised to $68.00 at Jefferies Group (ABBV)
Stock analysts at Jefferies Group upped their price target on shares of AbbVie (NASDAQ:ABBV) from $67.00 to $68.00 in a report issued on Thursday, Analyst Ratings Network.com reports. The firm currently has a “buy” rating on the stock. Jefferies Group’s target price indicates a potential upside of 32.66% from the stock’s previous close.
Shares of AbbVie (NASDAQ:ABBV) traded up 1.71% on Thursday, hitting $51.22. The stock had a trading volume of 6,960,524 shares. AbbVie has a 1-year low of $33.33 and a 1-year high of $54.78. The stock’s 50-day moving average is $51.13 and its 200-day moving average is $46.74. The company has a market cap of $81.337 billion and a P/E ratio of 17.76.
AbbVie (NASDAQ:ABBV) last posted its quarterly earnings results on Friday, October 25th. The company reported $0.82 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.78 by $0.04. The company had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.52 billion. AbbVie’s revenue was up 3.3% compared to the same quarter last year. Analysts expect that AbbVie will post $3.14 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a dividend of 0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Monday, January 13th.
Several other analysts have also recently commented on the stock. Analysts at UBS AG reiterated a “neutral” rating on shares of AbbVie in a research note to investors on Monday. They now have a $56.00 price target on the stock, up previously from $46.00. Separately, analysts at Bank of America Corp. reiterated a “buy” rating on shares of AbbVie in a research note to investors on Tuesday, December 31st. They now have a $56.00 price target on the stock, up previously from $53.00. Finally, analysts at Morgan Stanley downgraded shares of AbbVie from an “overweight” rating to an “equal weight” rating in a research note to investors on Thursday, December 19th. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $55.63.
AbbVie Inc (NASDAQ:ABBV) is a research-based pharmaceuticals company.
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