AbbVie Added to Goldman Conviction List On Humira Opportunity
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
Tickers
ABBV US (AbbVie Inc)
4523 JP (Eisai Co Ltd)
People
Jami Rubin (Goldman Sachs Group Inc/The)
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UUID: 7947283
(Bloomberg) -- AbbVie added to conviction buy list by Goldman analyst Jami Rubin, citing Humira’s cash-flow possibilities and the company’s diversified late-stage pipeline.
- Shares gain 0.8% pre-market
- Recommends ABBV “unlock trapped value” by separating Humira from the rest of the business and returning cash to holders through a recurring Humira dividend or buyback
- Says ABBV trades at a discount due to looming competition from biosimilars, but Humira will still generate $60b in cash flow over the next 5 years
- Raises PT to $80 from $74
- ABBV has 9 buys, 12 holds, 1 sell, average PT $71: Bloomberg data
- NOTE: Feb. 17, AbbVie Boosts Share Buyback Program by $5b
- Feb. 15, AbbVie Leukemia Drug Benefits Are Uncertain, U.K.’s NICE Says
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
Tickers
ABBV US (AbbVie Inc)
4523 JP (Eisai Co Ltd)
People
Jami Rubin (Goldman Sachs Group Inc/The)
To de-activate this alert, click here
To modify this alert, click here
UUID: 7947283