Bernstein Reiterates Market Perform Rating on Abbvie (ABBV)

Bernstein SocGen Group analyst Courtney Breen reiterated a Market Perform rating and $203.00 price target on Abbvie (NYSE: ABBV).

The analyst commented: "2Q 2025 Beat & Raise, albeit increasing Humira drag; AbbVie reported 2Q earnings Thursday (see our quick take here) with a meaningful beat on the topline & EPS; and raised the full year guide. This note aims to detail what we learned on the earnings call this morning, supplemented with insights from our call-back with IR & updates to our model.

While tariffs have been a concern, AbbVie have been only saying they won’t experience an out-sized hit versus competitors. Today we got confirmation even with the 15% EU tariffs (which may be implemented Aug 1)that 2025 impact would not be material. We spoke to AbbVie IR after the Drug Pricing Letters - they confirmed they’d provided a proposal to the administration, an alternative to MFN. That Medicaid is 6% of their total net sales. And, they are willing to engage in Direct patient platform & noted they already offer Synthroid through a DTC platform.

All in all, another strong quarter for AbbVie - growth came in all the right places, Skyrizi, Rinvoq & growth assets. A classic beat and raise quarter, although more rapid deterioration of Humira counterbalances the upsides in R&S, plus Vyalev - our EPS for 2025 comes down slightly ($11.96 vs 12.05 previously), while our 2026 EPS expectations increase by 13c."

For an analyst ratings summary and ratings history on Abbvie click here. For more ratings news on Abbvie click here.

Shares of Abbvie closed at $197.19 yesterday.

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