This Dividend Pharma Giant Yielding 2.9% Just Got a Big Vote of Confidence

This Dividend Pharma Giant Yielding 2.9% Just Got a Big Vote of Confidence

Quick Read AbbVie (ABBV) is up 25% year-to-date and doubled the S&P 500‘s return. HSBC upgraded AbbVie to Buy with a $265 target implying 19% upside. AbbVie raised its dividend for 13 straight years with a 13% CAGR over the past decade. The current yield stands at 2.9%. Skyrizi and Rinvoq are projected to reach $31B in combined sales by 2027. The drugs replace revenue lost from Humira’s biosimilar erosion. If you’re focused on picking the ri…