Bank of America Reiterates Buy Rating for AbbVie (ABBV)
AbbVie (NASDAQ:ABBV)‘s stock had its “buy” rating reiterated by research analysts at Bank of America in a report released on Thursday, American Banking News reports. They currently have a $55.00 target price on the stock. Bank of America’s price objective indicates a potential upside of 11.52% from the company’s current price.
A number of other analysts have also recently weighed in on ABBV. Analysts at Jefferies Group reiterated a “buy” rating on shares of AbbVie in a research note on Monday, April 14th. They now have a $61.00 price target on the stock. Separately, analysts at Morgan Stanley reiterated an “equal weight” rating on shares of AbbVie in a research note on Thursday, April 10th. They now have a $47.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $53.73.
Shares of AbbVie (NASDAQ:ABBV) traded down 1.64% during mid-day trading on Thursday, hitting $49.32. 6,628,778 shares of the company’s stock traded hands. AbbVie has a 52 week low of $40.10 and a 52 week high of $54.78. The stock has a 50-day moving average of $50.87 and a 200-day moving average of $49.92. The company has a market cap of $78.346 billion and a price-to-earnings ratio of 19.59.
AbbVie (NASDAQ:ABBV) last issued its quarterly earnings data on Friday, January 31st. The company reported $0.82 EPS for the quarter, meeting the Thomson Reuters 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 quarterly revenue was down 1.8% on a year-over-year basis. Analysts expect that AbbVie will post $3.12 EPS for the current fiscal year.
AbbVie Inc (NASDAQ:ABBV) is a research-based pharmaceuticals company.
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