Cantor Fitzgerald initiated coverage of AbbVie with an Overweight rating and $200 price target. AbbVie has successfully positioned itself to absorb Humira biosimilar erosion and achieve modest operational revenue growth, which should be followed by a return to robust growth in 2025, the analyst tells investors in a research note. The firm thinks the peak sales potential of Skyrizi, Rinvoq, emraclidine as well AbbVie’s pipeline are underappreciated, and the tail for Humira will be manageable at $4B-$5B in annual sales.
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