NYSE:ABBVBiotechs
AbbVie (ABBV) Stock Faces A Pivotal Growth Handoff After Guidance Lift
AbbVie stock slipped about 2.5% today and is roughly flat over the past month, even after a strong second quarter that pushed adjusted earnings per share to $3.65 and revenue to nearly $17.0b. The market is reacting to the near term. The numbers are pointing you to a longer story.
The headline is simple. AbbVie just delivered double digit revenue growth in a period when investors are still focused on legacy patent risks and a very rich trailing P/E of about 123x. The real question now is how...