Why AbbVie (ABBV) Stock Is Up Today

NEW YORK (TheStreet) -- AbbVie (ABBV) was gaining 0.8% to $58.44 Friday following reports that it's considering plans to raise more financing to acquire Shire (SHP)  after new U.S. rules against inversion deals.

The drug manufacturer may look to borrow as much as $7 billion more than its original acquisition plan called for due to new restrictions against using offshore cash, according to Bloomberg. Any plans are still in early stages as the company looks over the structure of the deal following the new rules.

The U.S. government imposed the new anti-inversion rules as a way to stop U.S. companies from acquiring overseas companies and using them to reincorporate in countries with lower tax rates. AbbVie planned to reincorporate after acquiring the London-based Shire.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

TheStreet Ratings team rates ABBVIE INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate ABBVIE INC (ABBV) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its notable return on equity, revenue growth and increase in net income. However, as a counter to these strengths, we also find weaknesses including weak operating cash flow and generally higher debt management risk."

You can view the full analysis from the report here: ABBV Ratings Report

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

More from Markets

Canopy Growth Lets Down Eager Pot Investors; PayPal Keeps Dominating -- ICYMI

Canopy Growth Lets Down Eager Pot Investors; PayPal Keeps Dominating -- ICYMI

Dow, S&P 500 and Nasdaq Tumble After Trump Calls Off North Korea Summit

Dow, S&P 500 and Nasdaq Tumble After Trump Calls Off North Korea Summit

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

3 Must Reads on the Market From TheStreet's Top Columnists

3 Must Reads on the Market From TheStreet's Top Columnists

Automakers Slump as Trump Tariffs Threaten Both Manufacturers and Consumers

Automakers Slump as Trump Tariffs Threaten Both Manufacturers and Consumers