Stock Rating Upgrade
The Value Trend Rating for AbbVie Inc (NYSE: ABBV) improved recently from C to B reflecting improving fundamentals and high Appreciation Potential. Details supporting this higher rating are included in our next report.
Recent Price Action
AbbVie Inc (NYSE: ABBV) stock rose slightly by 0.2% on 5/10/24. The stock closed at $160.75. However, this advance was accompanied by unusually low trading volume at 60% of normal. Relative to the market the stock has been strong over the last nine months but is unchanged during the last week.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to be above the cost of capital, ABBV is expected to continue to be a major Value Builder.
AbbVie has a current Value Trend Rating of B (Positive). This VT Rating improved in recent days from C previously. With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing inconsistent signals. AbbVie has a neutral Appreciation Score of 53 but a good Power Rating of 70, triggering the Positive Value Trend Rating.
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