AbbVie price target raised to $218 from $211 at Morgan Stanley

Morgan Stanley raised the firm’s price target on AbbVie to $218 from $211 and keeps an Overweight rating on the shares. Following the recent close of the Cerevel acquisition, the firm is adding lead asset Emracladine to its model and continues to expect data from two pivotal Phase 2 schizophrenia trials by year-end, the analyst tells investors in a research note.