Mastery talked up AbbVie Inc (ABBV) two weeks ago when it began trading on the NYSE. In the last five days the stock has moved up 9%. It's time to consider going long on ABBV.
We called AbbVie Inc. the Spinoff for 2013. It's been years in the making finally separating from Abbott Labs (ABT). AbbVie Inc (ABBV) shares have traded between $32.51 and $37.07 since the start of the year. The company is less than 2% from its recent high trading with P/E Ratio of 11.5 and EPS of 3.1. We wished we would have bought when we highlighted the stock. Last week they set their first quarterly dividend of 40 cents to be paid on Feb 15th for shareholders as of Jan 15th. That's an impressive forward dividend yield of 4.65%. Recall that AbbVie enjoys the profits such drugs as Humira, Vicodin, and cholesterol drug Niaspan.
Now the analysts have weighed in on AbbVie (the cue Mastery was waiting for). Yesterday Jefferies set a 'Buy' rating and a $44 price target calling ABBV its top pick for 2013.
|Ticker||Current Price||Target Price||% Increase|
Wells Fargo also set a rating of Outperform on AbbVie. It could pay to enter into a long position before we get too far into 2013.
Best of the Blogs
Scanning and identifying the best blog entries every hour
- Google Or Apple, FactSet Asks "Who's Bigger"? | ZeroHedge
- P2P Cracks Start To Show As LendingClub Write-Offs Double Forecasts | ZeroHedge
- Chart of the Day: Nonfarm Payrolls and Bank Tightening | Financial Sense
- China Explores Its Monetary Easing Toolkit | Financial Sense
- Another Exponential Chart: Record Numbers Renounce Their U.S. Citizenship In 2015 | ZeroHedge
- Q4 Earnings Illustrate Earnings Recession | Financial Sense
- Why Europe's Great Experiment Is Failing | Financial Sense
The most relevant financial news and articles from the Internets
- Why the world's most important startup farm is changing everything | Business Insider
- GoPro's CEO doesn't want the company to be called a 'camera company' but rather an '... | Business Insider
- US Customs seized $39 million worth of fake sports-related items ahead of Super Bowl... | Business Insider
- A 'night mayor' is transforming Amsterdam after dark | Business Insider
- The original 'Game of Thrones' pilot was a total trainwreck... | Business Insider
- 'Shark Tank' investor Daymond John says this daily ritual... | Business Insider
- Super Bowl MVP Von Miller cut out red meat, sports drinks, and junk food in the... | Business Insider