Pharmaceutical company (NYSE: ABBV) was a cure for the investor blues on Monday. Shares of the company rose more than 2% in price on an analyst's recommendation upgrade. AbbVie stock's resulting pop topped the bellwether S 500 index, which managed a comparatively light 1.2% increase on the day.

That analyst was Barclays' Carter Gould, who, before market open, pushed up his AbbVie recommendation one peg to overweight (read: buy) from his previous tag of equalweight (hold). He also added a bit of coin to his price target; this is now $170 per share from the prior $160.

Gould's move comes one trading day after AbbVie unveiled its third-quarter results. While the pharmaceutical sector mainstay beat the consensus analyst estimates on both the top and bottom lines and lifted its 2023 guidance, investors traded out of the stock that day. 

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Source Fool.com