HSBC Upgrades AbbVie (ABBV) to Buy, Raises Price Target to $265

Core Insights - AbbVie Inc. (NYSE:ABBV) is recognized as one of the 15 Best Stocks to Buy for the Long Term [1] - HSBC upgraded AbbVie to Buy and raised its price target from $225 to $265, while Piper Sandler reiterated a Buy rating with a price target of $289, indicating a 29.6% upside potential [2] Financial Performance - AbbVie has reported significant sales growth in its top-selling drugs: Skyrizi achieved $4.7 billion in sales with a 46.8% increase, Rinvoq generated $2.18 billion with a 35.3% year-over-year growth, and Humira reached $993 million, reflecting a 55.4% growth from the previous year [3] - The management anticipates further growth, projecting Rinvoq to generate $11 billion in revenues by 2027 and Skyrizi to reach $20 billion, supported by a strong drug portfolio and pipeline expansion through acquisitions [4] Dividend Information - AbbVie raised its quarterly dividend by 5.5% to $1.73 per share, marking the 53rd consecutive year of dividend growth, resulting in an annual payout of $6.92 per share [5]