Is This the Start of a Nightmare for AbbVie Stock?
With a small army of Wall Street analysts predicting on average that AbbVie's (NYSE: ABBV) revenue will shrink in 2023 as well as in 2024, investors are right to be cautious, and perhaps even a bit skittish. At the same time, the total return of the biopharma's shares is up by 12.4% in the last 12 months, handily beating the market's decline of 4.7%.
Is the market somehow missing the symptoms of a looming collapse, or is it judging that the company will navigate its upcoming troubles with ease? Let's answer those two questions by examining why people might be rightfully bearish about AbbVie's prospects over the next few years.
Pretty much everyone agrees that AbbVie's revenue is going to take a hit quite soon. Likewise, the consensus is that there's a very high chance the hits will keep coming over the next year or so. Here's why.
Source Fool.com
