AbbVie Receives Neutral Rating from Zacks (ABBV)
AbbVie (NASDAQ:ABBV)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued on Thursday, AnalystRatingsNetwork reports. They currently have a $50.00 target price on the stock. Zacks‘ price objective indicates a potential upside of 4.32% from the company’s current price.
Zacks‘ analyst wrote, “AbbVie reported fourth quarter 2013 EPS of $0.82, a penny short of the Zacks Consensus Estimate. Revenues slipped 1.8% to $5.111 billion, missing the Zacks Consensus Estimate of $5.126 billion. AbbVie’s guidance was also below expectations. We expect 2014 to remain challenging as the company absorbs the impact of the loss of exclusivity on the lipid franchise. However, this year should be catalyst rich for AbbVie as it continues to invest in its pipeline. We expect investor focus to remain on the company’s all-oral, interferon-free therapy with/without RBV which could be launched later this year. We are initiating coverage on AbbVie with a Neutral recommendation. While positive on the strong late-stage pipeline, dividend yield and growth strategy, we remain concerned about AbbVie’s dependence on Humira.”
Shares of AbbVie (NASDAQ:ABBV) traded up 0.42% on Thursday, hitting $47.93. The stock had a trading volume of 4,957,680 shares. AbbVie has a 52-week low of $35.01 and a 52-week high of $54.78. The stock’s 50-day moving average is $50.39 and its 200-day moving average is $47.53. The company has a market cap of $76.113 billion and a price-to-earnings ratio of 16.83.
AbbVie (NASDAQ:ABBV) last issued its quarterly earnings data on Friday, January 31st. The company reported $0.82 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.82. The company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.10 billion. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, analysts predict that AbbVie will post $3.13 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on ABBV. Analysts at BMO Capital Markets cut their price target on shares of AbbVie from $58.00 to $57.00 in a research note to investors on Tuesday, January 28th. Separately, analysts at Jefferies Group raised their price target on shares of AbbVie from $67.00 to $68.00 in a research note to investors on Thursday, January 9th. They now have a “buy” rating on the stock. Finally, analysts at UBS AG reiterated a “neutral” rating on shares of AbbVie in a research note to investors on Monday, January 6th. They now have a $56.00 price target on the stock, up previously from $46.00. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. AbbVie currently has an average rating of “Buy” and an average target price of $55.22.
AbbVie Inc (NASDAQ:ABBV) is a research-based pharmaceuticals company.
To view Zacks’ full report, visit www.zacks.com
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.