Berenberg raised the firm’s price target on AbbVie (ABBV) to $195 from $165 and keeps a Hold rating on the shares. The firm increased estimates to reflect higher immunology sales after reviewing the company’s annual report. However, AbbVie’s share price has been the best performer in large pharma, up 22% year-to-date, creating a fair valuation at current levels, the analyst tells investors in a research note.
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