RBC Capital analyst Randall Stanicky suggested that AbbVie "will generate double-digit near-term growth on the back of price and loss catchup in 2021 and strength of core franchises," reported TheStreet.
The analyst still is concerned about the company's aesthetics franchise, which following the acquisition of Allergan's Botox treatment makes up more than 9% of pro-forma annual revenue.
AbbVie's immunology segment has also faced headwinds in 2020, but Stanicky says its channel checks suggest that both segments will "bounce back meaningfully" next year and beyond.
"AbbVie is trading at close to historical lows and we see cash-flow support for the current sector-high dividend. Both should help support [the] shares into anticipated recovery," he added.
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