Analysts lift AbbVie price targets after strong Q3 results and raised guidance
AbbVie reported third‑quarter revenue of $17.40 billion, surpassing the $17.34 billion consensus, and Skyrizi sales reached $5.78 billion, slightly above the $5.74 billion estimate. The company increased its full‑year sales outlook to $67.8 billion and lifted its dividend. Following the earnings beat, multiple sell‑side firms raised their price targets for the stock, with new targets ranging from $275 to $346.
Why it matters
UBS said the higher target to $295 reflects the strong quarter and raised guidance. Morningstar noted that the raised fair‑value estimate to $237 per share stems from the solid performance and pipeline progress. The higher targets suggest potential upside for investors who own AbbVie shares.
Key facts
- 1Q3 revenue was $17.40 billion, exceeding the consensus of $17.34 billion. investing.com
- 2Skyrizi sales totaled $5.78 billion, a little above the consensus of $5.74 billion. investing.com
- 3Full‑year sales guidance was raised by $200 million to $67.8 billion. investing.com
- 4Adjusted earnings per share for the quarter were $3.82. investing.com
- 5UBS increased its price target to $295 from $275. investing.com
- 6Canaccord Genuity lifted its target to $338 from $290. tradingview.com
Summary written by AlphAI AI Desk from 11 of 11 sources. Not investment advice. Figures are as stated by the linked sources.