Analysts at Argus assumed coverage on shares of AbbVie (NASDAQ:ABBV) in a research report issued to clients and investors on Monday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $52.00 price target on the stock. Argus’ price objective suggests a potential upside of 15.53% from the stock’s previous close. The analysts noted that the move was a valuation call.
AbbVie (NASDAQ:ABBV) traded down 0.51% on Monday, hitting $44.81. AbbVie has a 52-week low of $33.33 and a 52-week high of $48.00. The stock’s 50-day moving average is currently $43.96. The company has a market cap of $70.934 billion and a price-to-earnings ratio of 13.88.
AbbVie (NASDAQ:ABBV) last announced its earnings results on Friday, July 26th. The company reported $0.92 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.79 by $0.13. The company had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.54 billion. The company’s quarterly revenue was up 4.4% on a year-over-year basis. Analysts expect that AbbVie will post $3.13 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group raised their price target on shares of AbbVie from $51.00 to $54.00 in a research note to investors on Monday, August 5th. They now have a “buy” rating on the stock. Separately, analysts at Morgan Joseph raised their price target on shares of AbbVie from $41.00 to $46.00 in a research note to investors on Monday, July 29th. They now have a “neutral” rating on the stock. Finally, analysts at BMO Capital Markets raised their price target on shares of AbbVie to $48.00 in a research note to investors on Monday, July 29th. They now have a “market perform” rating on the stock.
Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. AbbVie presently has an average rating of “Buy” and a consensus price target of $46.36.
AbbVie Inc (NASDAQ:ABBV) is a research-based pharmaceuticals company.
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