BMO Capital Markets Lowers AbbVie Price Target to $71.00 (ABBV)
Stock analysts at BMO Capital Markets cut their target price on shares of AbbVie (NASDAQ:ABBV) from $72.00 to $71.00 in a report issued on Thursday. BMO Capital Markets’ target price indicates a potential upside of 27.90% from the company’s current price.
AbbVie (NASDAQ:ABBV) traded down 0.38% on Thursday, hitting $55.30. The stock had a trading volume of 3,101,952 shares. AbbVie has a 52 week low of $42.89 and a 52 week high of $58.27. The stock’s 50-day moving average is $54.06 and its 200-day moving average is $52.94. The company has a market cap of $88.021 billion and a price-to-earnings ratio of 21.52.
AbbVie (NASDAQ:ABBV) last issued its quarterly earnings data on Friday, July 25th. The company reported $0.82 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.76 by $0.06. The company had revenue of $4.93 billion for the quarter, compared to the consensus estimate of $4.70 billion. During the same quarter last year, the company posted $0.82 earnings per share. On average, analysts predict that AbbVie will post $3.16 earnings per share for the current fiscal year.
ABBV has been the subject of a number of other recent research reports. Analysts at Credit Suisse raised their price target on shares of AbbVie from $60.00 to $63.00 in a research note on Wednesday, August 6th. They now have an “outperform” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of AbbVie in a research note on Monday, July 28th. They now have a $56.00 price target on the stock. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of AbbVie in a research note on Monday, July 14th. They now have a $71.00 price target on the stock, up previously from $66.00. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $62.70.
AbbVie Inc (NASDAQ:ABBV) is a research-based pharmaceuticals company.
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