AbbVie upgraded to Overweight from Equal Weight at Barclays

Barclays analyst Carter Gould upgraded AbbVie to Overweight from Equal Weight with a price target of $170, up from $160. The analyst says Friday’s selloff looks like an overreaction to “external sector dynamics,” against a backdrop of Immunology momentum and commentary de-risking 2024 pricing. The firm sees an opportunity in the shares “amidst the noise.” The upgrade reflects “clarity on the top-line evolution over the next 12-18 months and confidence on the timing of the trough,” the analyst tells investors in a research note.