Is AbbVie A Good Stock To Buy Amid Coronavirus Uncertainty?
Zacks Investment Research | Mar 22, 2020 10:53PM ET
The coronavirus pandemic has wreaked havoc on the stock market with the S&P 500 Index losing about a third of its value. There is a rising concern about the impact of the outbreak on first-quarter earnings due to supply-chain disruptions caused by the same. However, the outbreak has also created an opportunity for investors with a longer holding horizon, beyond the next one to two years. The market sell-off gives these investors and opportunity to start accumulating small positions in quality blue-chip names that are now available at 20% to 30% discounts from the levels they traded a few weeks back. In the more defensive drug/biotech sector, AbbVie, Inc. (NYSE:ABBV) is one such name. Here are some reasons to invest in the stock now
Good Rank and Rising Estimates: AbbVie has a Zacks Rank #2 (Buy). You can see Zacks Investment Research
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