Analyst Chris Schott of J.P. Morgan maintained a Buy rating on AbbVie, with a price target of $200.00.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Chris Schott has given his Buy rating due to a combination of factors that position AbbVie favorably in the pharmaceutical market. The company is expected to continue its strong performance with products like Skyrizi and Rinvoq, which are trending ahead of expectations and contributing significantly to revenue growth. Additionally, AbbVie faces no major loss of exclusivity until the mid-2030s, providing a stable outlook for its product portfolio.
Furthermore, AbbVie’s financial health is robust, with a strong balance sheet that allows for potential business development opportunities to support future growth. Despite a recent setback with emraclidine, the current valuation of AbbVie shares is considered attractive relative to its growth prospects, with a projected price target of $200 by December 2025. Schott anticipates that AbbVie will continue to outperform expectations, particularly with the ongoing success of Skyrizi and Rinvoq, making it a compelling investment opportunity.
According to TipRanks, Schott is a 3-star analyst with an average return of 1.3% and a 50.16% success rate. Schott covers the Healthcare sector, focusing on stocks such as Pfizer, Regeneron, and Teva Pharmaceutical.
In another report released yesterday, BMO Capital also maintained a Buy rating on the stock with a $215.00 price target.