The firm reduced its price target to $60 from $70 on shares of the Chicago-based biopharmaceutical company.
Credit Suisse cited concerns about the longevity of AbbVie's flagship treatment Humira, given the more challenging payer environment and pressure for more transparency around drug pricing, Barron's reports.
"While we expect these overhangs to only continue to grow, we see the catalyst profile for key pipeline assets as relatively limited in the coming months and we do not expect meaningful near-term upside from business development following the Pharmacyclics and Stemcentrx deals," the firm wrote.
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Separately, TheStreet Ratings team rates the stock as a "buy" with a ratingsi score of B.
AbbVie's strengths such as its robust revenue growth, notable return on equity, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.
You can view the full analysis from the report here: ABBV
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.