Why AbbVie Stock Flew Higher on Monday
Still basking in the afterglow of an encouraging quarterly earnings report, (NYSE: ABBV) stock saw a healthy 1.5% rise in price across Monday's trading session. What helped was a series of post-earnings price target increases from analysts tracking the healthcare company's fortunes.
AbbVie's Monday pop followed a nice rise on Friday, the morning it reported those results.
Although the company's fourth-quarter revenue fell by 5% year over year (to $11.1 billion), and its non-GAAP (adjusted) net income withered to just under $5 billion ($2.79) from the $6.4 billion in the same period of 2022, both headline figures topped the consensus analyst estimates.
Source Fool.com
AbbVie Inc. Stock
€152.66
0.320%
The stock is an absolute favorite of our community with 21 Buy predictions and no Sell predictions.
As a result the target price of 174 € shows a slightly positive potential of 13.98% compared to the current price of 152.66 € for AbbVie Inc..
