In a report published Tuesday, Jefferies analyst Jeffrey Holford reiterated a Buy rating on AbbVie ABBV, and raised the price target from $51.00 to $54.00.
In the report, Jefferies noted, “As the Pharmaceuticals Industry looks towards restructuring and separation of undervalued assets we have prepared a highly proprietary sum of the parts analysis for our coverage universe to find the best opportunities. As a result we have upgraded Bayer and Merck & Co. to Buy from Hold and Eli Lilly to Hold from U/P, though it remains our least preferred stock. Novartis and Abbott are now our Top European and US picks respectively.”
AbbVie closed on Friday at $45.44.
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