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Cantor Fitzgerald Maintains AbbVie(ABBV.US) With Buy Rating, Raises Target Price to $240

Futu News ·  Oct 31 21:31  · Ratings

Cantor Fitzgerald analyst Louise Chen maintains $AbbVie (ABBV.US)$ with a buy rating, and adjusts the target price from $200 to $240.

According to TipRanks data, the analyst has a success rate of 41.3% 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:

  • AbbVie's recent report of robust results for Q3 and the subsequent increase in revenue guidance for 2024 contribute to a positive outlook for the company as the year concludes. This optimistic financial trajectory is reflected in the enhanced earnings per share forecast for 2025. Despite this, the assessment of the company's long-term growth prospects in relation to its present market value retains a stance of neutrality.

  • Following AbbVie's Q3 report, which surpassed expectations and raised future guidance, there is an increase in confidence regarding the company's growth outlook. The revised projections are primarily due to anticipated higher sales of Rinvoq/Skyrizi, though this is somewhat balanced by reduced expectations for aesthetics and Humira sales.

  • AbbVie has delivered another commendable quarter. The outlook on the shares remains positive, underscored by promising pipeline developments and robust commercial traction looking towards 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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