HSBC Thinks AbbVie Can Climb to $315. Here's the Bull Case in Plain English.
On Sept. 10, HSBC analyst Rajesh Kumar maintained his "buy" rating on AbbVie (NYSE: ABBV) , raising his price target on the pharmaceutical company's shares from $300 to $315 per share. Recently, other sell-side firms, such as Wolfe Research, have raised their price targets above $300 per share. However, with AbbVie changing hands for around $262 per share, this price target nonetheless appears aggressive compared to other major pharmaceutical stocks . Even so, the rationale for it remains reasonable. It all has to do with two of the company's latest successful drug products: Skyrizi and Rinvoq. Image source: Getty Images. Continue reading