AbbVie Becomes Inversion Target, Now Top Pick: Jefferies
2014-07-18 18:02:53.683 GMT
By Cristin Flanagan
July 18 (Bloomberg) -- AbbVie replacing Novartis as global
top pick, writes Jefferies analyst Jeffrey Holford in note; ABBV
now “attractive inversion target itself.”
* PT to $85 from $71, citing updated accretion model; new PT
highest among analyst surveyed by Bloomberg (Bloomberg avg
PT $64)
* Sees Shire CEO Flemming Ornskov leading integration, rare
disease effort positive for shrs
* Disagrees with bear case on Humira, sees as more durable
than consensus views
* NOTE: Earlier, Bernstein said Humira a risk to deal, if
AbbVie unable to re-domicile Humira, which accounts for over
50% of current rev.
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To contact the reporter on this story:
Cristin Flanagan in New York at +1-212-617-8919 or
cflanagan1@bloomberg.net
To contact the editors responsible for this story:
Brad Skillman at +1-212-617-2763 or
bskillman1@bloomberg.net
Cristin Flanagan
2014-07-18 18:02:53.683 GMT
By Cristin Flanagan
July 18 (Bloomberg) -- AbbVie replacing Novartis as global
top pick, writes Jefferies analyst Jeffrey Holford in note; ABBV
now “attractive inversion target itself.”
* PT to $85 from $71, citing updated accretion model; new PT
highest among analyst surveyed by Bloomberg (Bloomberg avg
PT $64)
* Sees Shire CEO Flemming Ornskov leading integration, rare
disease effort positive for shrs
* Disagrees with bear case on Humira, sees as more durable
than consensus views
* NOTE: Earlier, Bernstein said Humira a risk to deal, if
AbbVie unable to re-domicile Humira, which accounts for over
50% of current rev.
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Cristin Flanagan in New York at +1-212-617-8919 or
cflanagan1@bloomberg.net
To contact the editors responsible for this story:
Brad Skillman at +1-212-617-2763 or
bskillman1@bloomberg.net
Cristin Flanagan