AbbVie upgraded to Buy at Erste Group on Friday

As previously reported, Erste Group upgraded AbbVie (ABBV) to Buy from Hold. The firm notes AbbVie recently confirmed its expectations for annual sales growth in the high single-digit percentage range until 2029. Numerous potential new products to be launched in the coming years support this positive outlook, Erste adds. The forecast earnings per share should increase significantly in 2025 and range between around $12.12-$12.32. The firm believes shares are reasonably valued based on the price-to-earnings ratio and offers further upside potential.