According to a report by Motor Intelligence, cited by CNBC, Tesla ( NASDAQ:TSLA) continued to be the U.S. Legacy automaker General Motors is rapidly moving ahead with its goal to become an all- electric vehicle (EV) company. The average price target of $169.10 implies nearly 25% upside. Wall Street is cautiously optimistic on AbbVie stock, with a Moderate Buy consensus rating based on six Buys and five Holds. The company offers a dividend yield of 4.4%. It is worth noting that AbbVie has increased its dividend for 51 consecutive years. Moreover, as of late May, the company’s pipeline had more than 50 programs in the mid and late-stage development. While near-term pressure seems inevitable, AbbVie is optimistic about the road ahead and expects its newer immunology drugs Skyrizi and Rinvoq to deliver sales of over $17.5 billion in 2025. Moreover, the company’s Q2 EPS guidance missed analysts’ expectations. The company now expects full-year adjusted EPS between $10.57 and $10.97 per share. On Thursday, the company lowered its full-year adjusted EPS outlook, citing $280 million in milestone and in-process research and development expenses during the second quarter. Humira sales declined 25.2% to $3.5 billion in Q1 2023, dragging down overall sales by 9.7% to $12.2 billion. Shares of AbbVie have been under pressure due to investors’ concerns about the declining sales of the pharma company’s immunology drug Humira due to competition from Biosimilars. PEP, a dividend king, offers a dividend yield of 2.8%. At $195.90, the average price target implies 7% upside.
With six Buys and five Holds, PEP stock scores a Moderate Buy consensus rating. Overall, Herzog believes that PepsiCo is one of the “best positioned companies” in the global food and beverage space to generate solid growth over the next ten years due to its impressive exposure to the snack food space and developing and emerging markets. Consequently, the analyst raised his Q2 organic sales growth expectation to 11.1% from 9.8%, mainly to reflect FLNA strength, and also increased his EPS estimate. Ahead of PepsiCo’s Q2 results (scheduled on July 13), Goldman Sachs analyst Bonnie Herzog reaffirmed a Buy rating on PEP with a price target of $208, saying that he sees a “favorable risk-reward.” The analyst expects a “healthy” revenue and earnings beat, given continued momentum in the company’s businesses, particularly for Frito-Lay North America (FLNA) as noted in recent NielsenIQ data.įurthermore, Herzog highlighted that the trends in the PepsiCo Beverages North America (PBNA) segment appear healthy, with consumer elasticities being resilient despite a tough macro backdrop.
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