AbbVie Stock Affirmed Outperform at RBC on Allergan Potential - (TheStreet via NewsPoints Desk)

  • 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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