William Blair Remains Bullish on AbbVie (ABBV) Following 2Q Beat

William Blair reiterated an Outperform rating and $127.00 price target on Abbvie (NYSE: ABBV) following the company's 2Q earnings report. Revenues for the quarter were $8.3 billion, beating consensus of $8.2 billion. Non-GAAP EPS were $2.00, above consensus of $1.97.

Management issued updated guidance for 2018 non-GAAP EPS of $7.76 to $7.86 from $7.66 to $7.76. William Blair's new non-GAAP EPS estimate for 2018 is $7.85, up from $7.80. They have also slightly lowered 2019 EPS estimate to $8.31 from $8.36, due to slightly lowering U.S. price increases for Humira to match inflation.

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 $90.50 yesterday.

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