AbbVie price target raised to $295 from $260 at Wells Fargo
Wells Fargo raised the firm's price target on AbbVie to $295 from $260 and keeps an Overweight rating on the shares. The firm could see a modest Skyrizi-driven beat vs. consensus and guidance, helping ease Icotide concerns. Wells cites improved confidence in AbbVie's post-2035 growth strategy driven by APGE deal and IBD combo strategy for the price target increase.
Wells Fargo raised the firm's price target on AbbVie to $295 from $260 and keeps an Overweight rating on the shares. The firm could see a modest Skyrizi-driven beat vs. consensus and guidance, helping ease Icotide concerns. Wells cites improved confidence in AbbVie's post-2035 growth strategy driven by APGE deal and IBD combo strategy for the price target increase.