Evercore ISI Lowers AbbVie’s PT to $228, Flags Beatable 2026–27 Guidance
Evercore ISI cut AbbVie’s 2026 price target to $228 from $232, maintaining an Outperform rating and citing beatable 2026–27 consensus and limited margin upside as competitor entries weigh on growth beyond 2028. AbbVie’s Q4 adjusted EPS topped estimates at $2.71, driven by Humira, Skyrizi’s $5.01B sales and Rinvoq’s $2.37B.
1. Evercore Revises Price Target
On February 5, Evercore ISI analyst Gavin Clark-Gartner trimmed AbbVie’s price target to $228 from $232 while retaining an Outperform rating. The move reflects expectations that consensus estimates for 2026 and 2027 remain achievable but highlights limited margin upside as new competitors enter AbbVie’s key markets.
2. Q4 Earnings Performance
In the fourth quarter, AbbVie reported adjusted earnings of $2.71 per share versus the $2.65 consensus, driven by stronger Humira sales. Skyrizi delivered $5.01 billion in revenue, outpacing the $4.82 billion forecast, while Rinvoq generated $2.37 billion, slightly below the $2.41 billion estimate.
3. Outlook and Growth Risks
AbbVie projects combined sales of Skyrizi and Rinvoq to reach $31.6 billion in 2026, hitting its target a year ahead of schedule. Evercore flags that growth beyond 2028 may face headwinds as biosimilar competition expands and margin outperformance narrows.