TD Cowen Initiates Buy Rating on AbbVie with $280 Price Target
核心洞察
TD Cowen (搜索) analyst Steve Scala initiated coverage of AbbVie (搜索) with a Buy rating and a price target of $280.00.
Scala is a 4-star analyst with an average return of 10.5% and a 62.87% success rate, covering the healthcare sector.
Bank of America Securities (搜索)' Jason Gerberry also issued a Buy on AbbVie (搜索), while Bernstein (搜索) maintained a Hold rating on July 22.
TD Cowen (搜索) analyst Steve Scala initiated coverage of AbbVie (搜索) (NYSE: ABBV) with a Buy rating and set a price target of $280.00, according to a report issued today. The initiation reflects a positive outlook on the pharmaceutical company's prospects within the healthcare sector.
According to TipRanks, Scala is a 4-star analyst with an average return of 10.5% and a 62.87% success rate. Scala covers the Healthcare sector, focusing on stocks such as Novartis, GlaxoSmithKline, and Zoetis.
The Buy rating from TD Cowen (搜索) was not the only bullish signal for AbbVie (搜索). Bank of America Securities (搜索)' Jason Gerberry also issued a Buy rating on AbbVie in a report issued the same day. However, on July 22, Bernstein (搜索) maintained a Hold rating on AbbVie (NYSE: ABBV), indicating a divergence of opinion among analysts covering the stock.
Financial Performance
Based on AbbVie (搜索)'s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $15 billion and a net profit of $699 million. In comparison, the prior year the company earned revenue of $13.34 billion and reported a net profit of $1.29 billion, reflecting a year-over-year increase in revenue alongside a decline in net profit.