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ChristopherCarrollSmith

ABBV remains a strong investment even after its recent run

Long
AbbVie Inc. (NYSE:ABBV)  
ChristopherCarrollSmith Updated   
NYSE:ABBV   AbbVie Inc.
Trend Lines Fundamental Analysis pharmaceuticals biotech Earnings
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trendline fundamental pharmaceuticals biotech earnings
Abbvie has been surging lately after a bullish trend line break, but it remains undervalued at the current price. The analyst summary score for Abbvie is 9.6/10, and the average analyst price target is $92 per share. Personally, I think Abbvie's strong earnings forecast and 5.5% dividend yield justifies $100 per share. Call volume in Abbvie is very bullish today after its cancer drug Imbruvica beat a rival cancer drug in a clinical trial.
Comment:
Abbvie may bounce from 50 RSI on the daily. Look for a green close today to enter. With a 5.3% dividend and a forward P/E under 10, I daresay the run isn't over yet.

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