AbbVie upgraded to outperform by Leerink on recent sell-off
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Contributor since / Followers
1 month ago
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- Leerink has upgraded AbbVie (NYSE:ABBV) to outperform from market perform, commenting that the recent sell-off in the shares has created a buying opportunity.
- “We believe investors can take advantage of the emraclidine setback and election-related downdraft to purchase shares in this high-quality company,” Leerink said in a note.
- The investment firm said that while its financial projections were largely in-line with consensus, it sees “the potential for continued strong execution to drive upside,” including for Skyrizi for ulcerative colitis.
- “We think the stock reflects low expectations for the company’s pipeline and for future external deals…which yields opportunity,” the firm added.
- Leerink maintained its price target of $206 for the stock.