AbbVie price target raised to $172 from $165 at UBS

UBS raised the firm’s price target on AbbVie (ABBV) to $172 from $165 and keeps a Neutral rating on the shares. The firm notes that while there was a “lot of nervousness” ahead of the company’s Q4 results, AbbVie posted solid results across most brands. The analyst adds that importantly, AbbVie’s key growth growth drivers Skyrizi and Rinvoq saw strong results, and while UBS had been warning of a potential miss for Skyrizi based on IQVIA (IQV) data, it benefited from strong volume uptake.