BofA Boosts AbbVie and J&J Price Targets on Growth and Pipeline Strength

BofA Boosts AbbVie and J&J Price Targets on Growth and Pipeline Strength

Bank of America just raised price targets on two pharma giants facing patent cliffs, but its conviction level differs sharply between them, and the valuation gap may explain which one belongs in a long-term portfolio right now.

BofA thinks Wall Street is underestimating one J&J drug

Johnson & Johnson (JNJ) has a new pill on the market for an illness called psoriasis, and Bank of America thinks investors are not paying enough attention to it yet. In a BofA note shared with me on Sept. 29, the bank almost doubled the highest possible sales figure it expects the drug to reach,…