Analysts raise AbbVie price targets following FDA breakthrough designations and drug approvals
JPMorgan increased its price target for AbbVie to $300 from $285, citing recent FDA breakthrough designations for the company's cancer drug. Cantor Fitzgerald also lifted its target to $290 from $285, pointing to strong drug performance and recent approvals for Juvmo and Rinvoq. Both firms maintained Overweight ratings on the stock. The adjustments come as AbbVie’s shares trade near their 52‑week high.
Why it matters
JPMorgan’s higher target suggests the firm expects the recent regulatory wins to boost AbbVie’s earnings outlook. Cantor Fitzgerald’s raise indicates it sees the drug portfolio as supporting further upside, though it notes valuation concerns. Investors may see the new targets as a catalyst for price appreciation, but must weigh the differing forecasts.
Key facts
- 1JPMorgan raised its price target for AbbVie to $300 from $285. marketscreener.com
- 2The JPMorgan target increase follows FDA breakthrough designations for AbbVie’s cancer drug. marketscreener.com
- 3Cantor Fitzgerald raised its price target to $290 from $285. uk.investing.com
- 4Cantor cited FDA approval of Juvmo and European Commission approval of Rinvoq as part of its rationale. uk.investing.com
- 5Both analysts kept an Overweight rating on AbbVie. uk.investing.com
- 6AbbVie shares were trading at $271.36, near the 52‑week high of $274.94. uk.investing.com
Open questions
- Conflicting price target figures: JPMorgan’s target is $300 while Cantor Fitzgerald’s target is $290.
Summary written by AlphAI from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.