AbbVie price target lowered to $195 from $200 at Wells Fargo

Wells Fargo lowered the firm’s price target on AbbVie to $195 from $200 and keeps an Overweight rating on the shares. The firm is not concerned about I&I pricing rebates, as Rinvoq and Skyrizi are still expected to drive high double-digit growth, and would be a buyer of the stock here, the analyst tells investors in a research note. At the same time, pipeline concerns make Wells Fargo see the need for M&A.