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Morgan Stanley Maintains AbbVie(ABBV.US) With Buy Rating, Raises Target Price to $231

Futu News ·  Oct 31 21:31  · Ratings

Morgan Stanley analyst Terence Flynn maintains $AbbVie (ABBV.US)$ with a buy rating, and adjusts the target price from $218 to $231.

According to TipRanks data, the analyst has a success rate of 56.3% and a total average return of 9.5% over the past year.

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Furthermore, according to the comprehensive report, the opinions of $AbbVie (ABBV.US)$'s main analysts recently are as follows:

  • After AbbVie reported robust third-quarter results and increased its revenue guidance for 2024, the company's outlook towards the end of the year is viewed positively. The improved projection for 2025 earnings per share has influenced this optimistic stance. Nonetheless, when assessing the company's long-term growth prospects in relation to its present valuation, a neutral perspective is maintained.

  • Following a robust third-quarter report which exceeded expectations, confidence in the growth outlook is fortified, particularly with commentary looking ahead to 2025. This sentiment is reinforced by upward revisions in estimates, largely driven by anticipated increases in Rinvoq/Skyrizi sales, though somewhat balanced by a tempered forecast for aesthetics and Humira sales.

  • The company has reported another robust quarter, which supports a positive outlook on the stock. This optimism is bolstered by numerous upcoming pipeline events and strong commercial traction heading into 2025.

Note:

TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.

Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.

TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.

The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
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