Piper Sandler analyst Christopher Raymond raised the firm’s price target on AbbVie (ABBV) to $227 from $220 and keeps an Overweight rating on the shares ahead of earnings. With biotech having largely underperformed in 2024 and with several macro headwinds expected this year, the firm thinks the phrase “stock pickers market” may never be more appropriate than right now. Given these factors, Piper is taking the time to finetune its price targets and layer in additional Q4pre-releases for a number of names. Bottom line, despite meaningful macro factors in 2025, the firm believes several large and mid-cap names with fundamental drivers may severe as excellent vehicles for upside this year.
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