Bank of America Raises AbbVie Price Target to $234, Allergan Aesthetics Pledges $100K Donation
Bank of America upgraded AbbVie to Buy from Neutral and raised its price target to $234, citing strong forward indicators for Skyrizi and category-expanding competition. Allergan Aesthetics will donate $10 per new Allē member in May, up to $100,000, to the Skin Cancer Foundation.
1. BofA Upgrades AbbVie to Buy
Bank of America upgraded AbbVie from Neutral to Buy and increased its price target to $234. The firm argued that market concerns over immunology competitive erosion are overdone, pointing to strong forward indicators for Skyrizi and the category-expanding nature of new competitors.
2. Allergan Aesthetics Donation Effort for Skin Cancer
Allergan Aesthetics will contribute $10 for every new Allē loyalty program member who joins by referral in May, with a maximum donation of $100,000 to the Skin Cancer Foundation. The initiative leverages customer referrals to drive philanthropic support for skin cancer awareness.