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Rating Summary:
5 Buy, 2 Hold, 0 Sell
Rating Trend: Down
Today’s Overall Ratings:
Wells Fargo initiates coverage on Abbvie (NYSE: ABBV) with a Outperform rating and $37-$40 valuation range.
The firm is confident in the near-term growth prospects of Humira and AndroGel, and likes the long-term potential of ABBV’s all-oral HCV regimen and elotuzumab. The firm also views management’s 2013 financial objectives as realistic, yet beatable. The high dividend yield and discount valuation also provides share support, they said.
For an analyst ratings summary and ratings history on Abbvie click here. For more ratings news on Abbvie click here.
Shares of Abbvie closed at $34.60 yesterday, with a 52 week range of $33.33-$35.45.
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