AbbVie pullback brings attractive entry point, says JPMorgan

JPMorgan says the recent pullback in shares of AbbVie creates an attractive entry point. The firm expects “seasonal headwinds” in Q1 to impact immunology results but says this appears to be well reflected in guidance and consensus estimates. The analyst remains well above consensus on AbbVie’s longer term prospects of the portfolio based on the strength of Skyrizi and Rinvoq’s launches in irritable bowl syndrome. It continues to see AbbVie as one of the best-positioned names in the large-cap group.