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On Friday, Deutsche Bank analysts initiated coverage on shares of AbbVie Inc ABBV with a Buy rating and $80 price target.
Robyn Karnauskas outlined reasons for the Buy rating:
- 2015 HCV estimates are too low.
- HCV revenues will offset lost sales.
- AbbVie’s HCV pipeline is undervalued.
- The Street is underestimating margin expansion, earnings power and cash generation.
- The company trades at a discount to its peers despite higher EPS CAGR.
Shares of AbbVie recently traded at $63.47, down 0.25 percent.
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