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
- Is Google Censoring Search Results To Protect Hillary? | ZeroHedge
- European Banks Prepare For "Economic Nuclear Winter" | ZeroHedge
- US Bank Stocks Surge To 2016 Highs Despite Collapse In Yield Curve To 9 Year Lows | ZeroHedge
- Global Stocks Slide, Futs Flat; Commodities Down On Stronger Dollar As Hike Odds Reprice Higher | ZeroHedge
- Risk-Parity Panic Looms As Bonds, Stocks, Gold Rally; Reject Fed Hawkish Chatter | ZeroHedge
- Cracking Open a Six-Pack | Financial Sense
- German Economy Minister: "TTIP Talks Have Failed" | ZeroHedge
The most relevant financial news and articles from the Internets
- Hallucinogens Legally Sold as 'Bath Salts' a New Threat | BusinessWeek
- 7 weird dog behaviors and what they mean | Business Insider
- 10 things you need to know today (spy, spx, qqq, dia, czr, hlf) | Business Insider
- ASK A FINANCIAL PLANNER: 'How much money should I keep in my bank... | Business Insider
- Here's how much millennials are earning annually across the US | Business Insider
- Report: 70 tents burned down in Iraqi refugee camp | Business Insider
- Finding an apartment in San Francisco is so hard, a programmer... | Business Insider