Piper Sandler Raises AbbVie (ABBV) Price Target to $289, Maintains Overweight Rating

Core Insights - AbbVie Inc. has been recognized as one of the 15 Best DRIP Stocks to Own Right Now [1] - Piper Sandler raised AbbVie's price target from $284 to $289, maintaining an Overweight rating due to stronger long-term expectations for Skyrizi and improved forecasts for the Neuroscience division [2] - AbbVie's third-quarter 2024 results showed a total revenue of $15.7 billion, a 9.1% year-over-year increase, with significant growth in the immunology segment [3] Financial Performance - The immunology segment generated earnings of $7.89 billion, reflecting an 11.9% increase on a reported basis and an 11.2% increase on an operational basis [3] - Global sales of Skyrizi increased by 46.8% to $4.71 billion, while Rinvoq revenues rose by 35.3% to $2.18 billion [3] - Humira revenues decreased by 55.4% to $993 million due to competition from biologic similar products [3] Company Overview - AbbVie Inc. is a research-driven biopharmaceutical company focused on discovering, developing, manufacturing, and marketing innovative medicines and therapies [4]