AbbVie (ABBV – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Steve Scala from TD Cowen maintained a Buy rating on the stock and has a $180.00 price target.
Steve Scala has given his Buy rating due to a combination of factors that suggest AbbVie’s stock has strong potential for growth. After reviewing AbbVie’s first-quarter results, Scala adjusted sales and EPS estimates for 2024-25 upwards, indicating a positive outlook for the company’s financial performance. Despite the anticipated competition for AbbVie’s drug Humira, the sales projections remain consistent with the company’s guidance, suggesting that the impact of competitors may be more modest than initially feared. Scala also recognizes upcoming news and developments that could positively influence AbbVie’s stock value, further justifying the Buy rating.
Additionally, Scala’s longer-term analysis from 2026 to 2030 forecasts solid EPS growth and sales gains, reinforcing the belief in AbbVie’s continued financial health. The expectation of above-average growth starting in 2025, as defined by the company, aligns with Scala’s projections of a 9% increase in EPS on slightly increased sales for that year. Despite the conservative sales growth forecast compared to AbbVie’s guidance, the maintained operating profit margin target for 2030 underscores confidence in the company’s financial management and efficiency. Scala’s analysis suggests that AbbVie’s current valuation offers an attractive entry point for investors, with the potential for appreciable returns over the coming years.
In another report released yesterday, Wells Fargo also maintained a Buy rating on the stock with a $200.00 price target.
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AbbVie (ABBV) Company Description:
AbbVie, Inc. is a biopharmaceutical company focused on key therapeutic areas like immunology, oncology, neuroscience, eye care, virology, women’s health and gastroenterology. The company was founded on October 19, 2011 and is headquartered in North Chicago, IL.
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- AbbVie price target lowered to $180 from $195 at BMO Capital
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- AbbVie price target lowered to $187 from $195 at Barclays
- AbbVie (NYSE:ABBV) Sinks as Humira Drug Sees Increased Competition
