AbbVie Could Soar 24%, According to a Wall Street Analyst. Is the High-Yield Dividend Stock a Buy Now?

Shares of Big Pharma company AbbVie (NYSE: ABBV) inched higher recently in response to positive news from a Wall Street investment bank. BMO Capital analyst Evan Seigerman raised his price target on the stock from $180 to $214 per share on Friday, July 19.Bullishness for AbbVie might seem foolhardy to the casual observer. The company's lead drug, Humira, finally lost patent-protected exclusivity in the U.S. market last year, and earnings are down.Humira is under pressure, but AbbVie's dividend is still rising. At recent prices, it offers a 3.6% yield that is more than double what you'd receive from the average stock in the S&P 500 index. Let's look at the reasons Seigerman is enthusiastic about this stock despite an enormous patent cliff.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool