Tim Anderson, an analyst from Bank of America Securities, reiterated the Hold rating on AbbVie. The associated price target remains the same with $204.00.
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Tim Anderson’s rating is based on a combination of factors that reflect both the strengths and challenges faced by AbbVie. The company has shown strong performance across most of its franchises, with significant contributions from key brands like Skyrizi and Rinvoq. This consistent performance positions AbbVie as a company that frequently exceeds expectations. However, there are uncertainties related to pricing dynamics, particularly concerning the Part D redesign, which could impact future financial outcomes.
Despite AbbVie’s robust pipeline and less exposure to patent expirations compared to its peers, the current stock valuation appears to already account for these advantages. This suggests limited immediate upside potential, justifying a Hold rating. Additionally, while the aesthetics franchise remains a weak spot, AbbVie is optimistic about its eventual recovery. Overall, the company’s strengths are balanced by these considerations, leading to a Neutral stance on the stock.
In another report released on July 24, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $208.00 price target.
ABBV’s price has also changed slightly for the past six months – from $183.900 to $189.020, which is a 2.78% increase.