AbbVie Beats Guidance, Price Target Cut to $228
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- Evercore ISI lowered AbbVie’s price target to $228 (from $232) and kept an Outperform rating.
- Evercore noted that Tremfya is gaining market share while AbbVie’s 2026 guidance and consensus estimate remain achievable, with similar expectations for 2027.
- Evercore stated that buy‑side projections have been outpacing consensus, which may limit the size of future earnings gains.
- AbbVie reported full‑year adjusted EPS of $10, beating its guidance midpoint by $0.54 (excluding IPR&D expenses) and delivering record 2025 performance.
- AbbVie saw net revenue rise 8.6% YoY to $61.2 billion, exceeding expectations by over $2 billion despite a steep U.S. Humira decline.
- AbbVie projected a 9.5% revenue increase in 2026, driven by Skyrizi and Rinvoq, which together are expected to generate more than $31 billion.
Why it matters: Investors see a modest upside as AbbVie’s earnings beat and revenue growth support its 2026 guidance, but the lowered price target signals limited upside and heightened competition from upcoming rival therapies, potentially curbing future earnings expansion beyond 2028 for shareholders.
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