Bank of America (BofA) has revised its price target for AbbVie (ABBV, Financial), reducing it from $223 to $200 while maintaining a Neutral rating on the pharmaceutical company's shares. This adjustment comes as the firm prepares for AbbVie's upcoming first-quarter financial results, expected on April 25th.
In anticipation of these results, BofA updated its revenue and earnings per share (EPS) estimates for 2025 and the years beyond. For the first quarter, the firm's projections for both revenue and EPS are slightly above previous estimates, partially driven by increased sales of AbbVie's drugs Skyrizi and Rinvoq.
Looking further ahead, BofA's forecast for AbbVie's revenue and EPS between 2025 and the late 2020s remains generally consistent with previous predictions, showing only minor variations of 1% to 2% either up or down. This steady outlook reflects the analyst's view of the company's performance in those years.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 24 analysts, the average target price for AbbVie Inc (ABBV, Financial) is $214.64 with a high estimate of $251.00 and a low estimate of $173.00. The average target implies an upside of 24.08% from the current price of $172.99. More detailed estimate data can be found on the AbbVie Inc (ABBV) Forecast page.
Based on the consensus recommendation from 27 brokerage firms, AbbVie Inc's (ABBV, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for AbbVie Inc (ABBV, Financial) in one year is $167.84, suggesting a downside of 2.98% from the current price of $172.99. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the AbbVie Inc (ABBV) Summary page.
