UPDATE: Jefferies Raises PT on AbbVie on Attractive Valuation

In a report published Wednesday, Jefferies analyst Jeffrey Holford reiterated a Buy rating on AbbVie

, and raised the price target from $45.00 to $50.00. In the report, Holford noted, “We remain positive on Pharmaceuticals and see valuation as attractive for most stocks. Our Top Pick in the US is AbbVie, with Novartis being our most preferred name in Europe. Sanofi, Roche and Pfizer remain high conviction Buy ratings. We point to Eli Lilly and GlaxoSmithKline as least preferred names.” AbbVie closed on Tuesday at $42.55.