BMO Capital analyst Evan Seigerman raised the firm’s price target on AbbVie to $214 from $180 and keeps an Outperform rating on the shares. The firm’s review of the first year of Humira erosion has left it more confident in the company, stating that AbbVie’s assets like Skyrizi and Rinvoq should continue growing faster than consensus expectations, the analyst tells investors in a research note. With recent ImmunoGen and Cervel deals, AbbVie has expanded its revenue growth potential and now has multiple high-impact catalysts to drive shares higher, BMO added.
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