AbbVie Stock (ABBV): $160 Price Target From Piper Sandler

By Amit Chowdhry ● Jan 9, 2022
  • The shares of AbbVie Inc (NYSE: ABBV) have received a $160 price target from Piper Sandler. These are the details.

The shares of AbbVie Inc (NYSE: ABBV) have received a $160 price target from Piper Sandler. And Piper Sandler analyst Christopher Raymond increased the price target on AbbVie from $129 while maintaining an “Overweight” rating on the shares.

Raymond said that AbbVie remains a top pick for this year as continued commercial momentum from Skyrizi and Rinvoq is expected. Plus AbbVie also has an emerging neurology franchise as well as continued outperformance from the legacy Allergan aesthetics business.

This year, Raymond now sees revenue of $60 billion. And for 2023, the much-feared Humira loss of exclusivity year, Raymond now sees revenue dropping just $4 billion to $56 billion with year-over-year growth after that.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.