Why AbbVie Stock Flew Higher on Monday
Still basking in the afterglow of an encouraging quarterly earnings report, (NYSE: ABBV) stock saw a healthy 1.5% rise in price across Monday's trading session. What helped was a series of post-earnings price target increases from analysts tracking the healthcare company's fortunes.
AbbVie's Monday pop followed a nice rise on Friday, the morning it reported those results.
Although the company's fourth-quarter revenue fell by 5% year over year (to $11.1 billion), and its non-GAAP (adjusted) net income withered to just under $5 billion ($2.79) from the $6.4 billion in the same period of 2022, both headline figures topped the consensus analyst estimates.
Source Fool.com
AbbVie Inc. Stock
The stock is an absolute favorite of our community with 32 Buy predictions and no Sell predictions.
As a result the target price of 178 € shows a slightly positive potential of 4.36% compared to the current price of 170.56 € for AbbVie Inc..