AbbVie price target raised to $200 from $180 at Wells Fargo

Wells Fargo raised the firm’s price target on AbbVie to $200 from $180 and keeps an Overweight rating on the shares. The firm says AbbVie’s growth story is looking better as Skyrizi and Rinvoq are poised to overtake Humira, and pipeline is emerging with internal assets and BD. AbbVie has shown it can manage Humira erosion, and the focus is now on delivering growth through the 2030s, Wells adds.