AbbVie Price Target Raised to $249 on Immunology Outlook Upgrade
Financial firm lifted its AbbVie price target to $249 from $242 and maintained a Buy rating, projecting Q1 revenue of $14.65 billion and EPS of $2.57 ahead of the April 29 report. Upgraded medium-term forecasts predict stronger Skyrizi and Rinvoq growth and trim Botox and Juvederm estimates.
1. Price Target Raised to $249
Guggenheim upgraded AbbVie’s price target to $249 from $242 and maintained a Buy rating ahead of its April 29 first-quarter earnings release.
2. Q1 Revenue and EPS Projections
Analysts now forecast Q1 revenue of $14.65 billion and EPS of $2.57, reflecting a $0.41 dilution from an in-process R&D charge not fully captured in street estimates.
3. Upgraded 2028–2032 Outlook
Updated medium-term projections boost sales and earnings through 2028–2032, driven by stronger prescription trends for Skyrizi and Rinvoq while reducing aesthetics outlooks for Botox and Juvederm.
4. Immunology Fuels Competitive Lead
AbbVie’s strengthened immunology growth trajectory helps offset Humira declines and positions the company ahead of peers like Pfizer in growth metrics.