Why AbbVie Stock Popped While the Market Flopped on Monday

Monday was a grim day for a great many stocks, but luckily for its investors, AbbVie (NYSE: ABBV) wasn't one of them. The storied pharmaceutical company saw its share price rise by almost 4%, on the back of a pair of pre-earnings price target bumps from analysts. The contrast between AbbVie's performance and that of the wider market was stark, as the bellwether S&P 500 (SNPINDEX: ^GSPC) sank by a relatively steep 1.5%.Well before the market open, news broke of those two AbbVie price target increases. They came at the kickoff of the week, when the company was scheduled to post its fourth-quarter earnings (on Friday, Jan. 31). The first came from white-shoe investment bank Goldman Sachs, whose analyst Chris Shibutani bumped his fair value assessment to $208 per share from the previous $205. According to reports, Shibutani actually lowered certain profitability estimates for the company, yet remained bullish on its immunology products such as Skyrizi and Rinvoq. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool