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Credit Suisse Upgrades AbbVie to Hold


Credit Suisse analyst Vamil Divan upgraded AbbVie (NYSE: ABBV) to Hold yesterday and set a price target of $89. The company’s shares closed yesterday at $96.63.

According to TipRanks.com, Divan is a 1-star analyst with an average return of -1.3% and a 47.0% success rate. Divan covers the Healthcare sector, focusing on stocks such as Aimmune Therapeutics, Johnson & Johnson, and Eli Lilly & Co.

Currently, the analyst consensus on AbbVie is a Moderate Buy with an average price target of $110.33.

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Based on AbbVie’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $7.93 billion and net profit of $2.77 billion. In comparison, last year the company earned revenue of $6.94 billion and had a net profit of $1.91 billion.

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