Better Long-Term Buy: AbbVie or Novo Nordisk?
Pharmaceutical companies Novo Nordisk (NYSE: NVO) and (NYSE: ABBV) seem to be headed in separate directions.
Denmark-based Novo Nordisk, thanks to growing sales of diabetes drug Ozempic and obesity therapy Wegovy, is predicting sales to grow between 24% to 30% and operating profit to rise 28% to 34% this year.
AbbVie, on the other hand, thanks to the loss of patent protection for immunology blockbuster Humira, has forecasted 2023 adjusted earnings per share (EPS) to drop by 20% to 23%, from 2022 levels. Both stocks rewarded investors over the past decade, but for the long term, which is a better buy right now? Let's find out.
Source Fool.com
AbbVie Inc. Stock
€168.96
0.520%
The stock is an absolute favorite of our community with 32 Buy predictions and no Sell predictions.
As a result the target price of 180 € shows a slightly positive potential of 6.53% compared to the current price of 168.96 € for AbbVie Inc..
