AbbVie (ABBV) Reports Strong 3Q and Long term outlook; Cowen Reiterates Outperform

Cowen reiterated an Outperform rating and $77.00 price target on Abbvie (NYSE: ABBV) following the company's 3Q earnings results. Q3 EPS of $1.13 was $0.06 above consensus. Full year guidance has been raised to $4.26-4.28 (prior $4.10-4.30). Q3 sales of $5,944MM (+18%) were $54MM above consensus.

Analyst Steve Scala commented, "Q3 beat on top and bottom line; full year guidance raised and long-term guidance issued that is well above expectations for both sales and earnings."

For an analyst ratings summary and ratings history on Abbvie click here. For more ratings news on Abbvie click here.

Shares of Abbvie closed at $54.10 yesterday.

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