AbbVie recent weakness a buying opportunity, says JPMorgan

JPMorgan analyst Chris Schott views the recent weakness in shares of AbbVie as a buying opportunity ahead of the company’s 2023 guidance on February 9. The analyst sees a "clear path to multiple expansion" as the story shifts from trough earnings to "top tier growth prospects" in 2025 and beyond with little loss of exclusivity exposure. And with the recent selloff following its weak oncology guidance, JPMorgan sees an increasingly attractive setup for AbbVie from here. It keeps an Overweight rating on the shares with a $190 price target.