AbbVie price target lowered to $160 from $170 at Credit Suisse

Credit Suisse lowered the firm’s price target on AbbVie to $160 from $170 and keeps an Outperform rating on the shares heading into the Q2 results. The firm is seeing more rapid outflow out of Pharma as optimism in the market improves, and says the focus for AbbVie will be on the Skyrizi sales, where TRx now includes prescriptions from the Accredo channel.