While the market bounced back last year, some stocks failed to keep pace with broader equities. That was the case with pharma giant (NYSE: ABBV) and e-commerce specialist Etsy (NASDAQ: ETSY), both of which encountered company-specific issues. Near-term headwinds aside, AbbVie and Etsy have much to offer investors, especially those willing to stay the course and hold their shares for five years or more.

Let's find out why these beaten-down stocks remain excellent buys in 2024 and beyond.

AbbVie's revenue dropped last year as it faced generic competition for its blockbuster immunology medicine Humira. Although this was a long time coming, the reality of it seems to have hit some investors hard. However, AbbVie is doing relatively fine, considering that Humira is the best-selling drug in the history of the industry, and it is now a deadweight on revenue growth.

Continue reading

Source Fool.com