Research-based biopharmaceutical giant AbbVie Inc. (NYSE: ABBV) beat analysts’ forecasts for both profits and revenues in the June quarter. The company’s market is around $202.2 billion and the stock posted a new 52-week high of $119.15 on July 30. That resulted in price target increases from four brokerages: Barclays, from 105 to $112; Mizuho, from $128 to $131; SVB Leerink, from $144 to $145; and Argus from $130 to $140. The median price target on the stock is $126 and 18 of 24 analysts have assigned a rating of Buy or Strong Buy on the stock.
Shares closed Friday at $114.45, implying an upside potential of around 10%. AbbVie pays an annual dividend of $5.20 per share for a yield of 4.54%.
Integrated oil & gas giant Exxon Mobil Corp. (NYSE: XOM) sports a market cap of almost $245 billion. The company beat June-quarter forecasts on both the top and bottom lines, primarily due to higher prices for crude oil. Most analysts (18 of 28) give the stock a Hold rating while another nine rate the shares a Buy or Strong Buy. Following the earnings report, however, two brokers lowered their price targets and one downgraded the stock. DZ Bank dropped its rating from Buy to Hold and cut its price target from $67 to $62.50 while Credit Suisse kept its Hold rating and chopped its price target from $73 to $69.
The stock closed at $57.86 on Friday and the median price target is $66.50, implying an upside of nearly 15%. Exxon pays an annual dividend of $3.48 for a yield of 6.08%.
The other supermajor U.S. integrated oil & gas giant, Chevron Corp. (NYSE: CVX), also reported top- and bottom-line results that beat expectations for the second quarter. The last remaining energy stock among the Dow 30, Chevron’s market cap is around $197.2 billion. Unlike Exxon, however, analysts’ ratings on the stock are more positive with 16 of 28 rating the shares a Buy or Strong Buy and the other 12 putting a Hold rating on the stock. Recent ratings include a downgrade from Buy to Hold at DZ Bank with a price target of $110. Raymond James rates the stock at Outperform and raised its price target from $120 to $125.
Shares closed Friday at $101.95, implying a potential upside of about 22.5% based on a median price target of $126. Chevron pays an annual dividend of $5.36 for a yield of 5.26%.