Slipping one position to third place is Morgan Stanley’s David Risinger, who also earns a runner-up spot in Pharmaceuticals/Specialty. Risinger forecasts that large-cap pharmaceuticals will perform in tandem with the broad market, as they recently have done. “We expect pipeline news to be generally encouraging,” the analyst explains, “but we note that the sector already trades at close to a market multiple.” In the spring he highlighted AbbVie as a top pick, in part because the Chicago-based developer’s therapeutics line “is underappreciated, in particular the company’s new all-oral regimen for hepatitis C,” says Risinger. He upgraded the shares from equal weight to overweight in April, at $44.20, with a price target of $49. The stock had traded down 2.7 percent, to $42.61, by the end of August, in line with the sector’s decline, but AbbVie remains a Risinger favorite. “Dave’s stock picks are never without controversy,” insists one backer, “which separates him from many of his peers. Dave’s opinions are well supported by the perfect mix of clinical and financial data.” — Leslie Kramer |
Leslie Kramer Risinger David Risinger Dave Morgan Stanley
