AbbVie price target lowered to $187 from $195 at Barclays

Barclays lowered the firm’s price target on AbbVie to $187 from $195 and keeps an Overweight rating on the shares. The analyst says Humira erosion and transient headwinds are driving a reframing of the company’s 2025 earnings growth. However, AbbVie’s long-term profile keeps the firm “positively biased.” AbbVie’s reiterated 2024 Humira guidance came with a one-time pricing benefit for Q2, implying a lower run-rate exiting 2024, while the more impactful update was the reframing of 2025 headwinds from Part D restructuring and interest expense manifesting in earnings growth below top-line growth, says Barclays.