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
- "A Random Straight Line On Wall Street" | ZeroHedge
- STTG Market Recap August 22, 2014 | FundMyMutualFund
- Buy Physical Gold and Silver Bars - Ex Mafia Boss | ZeroHedge
- CCJ Took A Downgrade | iBankCoin.com
- PAY ATTENTION READERS: I CHALLENGE YOU (Van Damme Voice) | iBankCoin.com
- Stocks Stumble On J-Hole But Close Best Week In 4 Months | ZeroHedge
- Gold & Bond Yields Slide As Stocks Continue Hawkish Surge | ZeroHedge
The most relevant financial news and articles from the Internets
- Here's What An Accountant Really Does All Day | Business Insider
- PETA Increased Its Stake In SeaWorld This Week (SEAS) | Business Insider
- Everyware Global (EVRY) Unit to Unload U.K. Business | StreetInsider.com
- Salesforce.com Reports Earnings: A Solid Beat And It Has Raised Its Guidance For The... | Business Insider
- This Is The Cat Experiment That Should Make You Feel Better About The Future Of Humanity | Business Insider
- Pre-Open... | StreetInsider.com
- Kevin Spacey Is Making $500,000-Per-Episode For 'House Of Cards' | Business Insider