BofA Cuts AbbVie (ABBV) Target While Maintaining Neutral View

Core Viewpoint - AbbVie Inc. is recognized as one of the best pharmaceutical dividend stocks to consider for investment in 2026, despite a recent price target reduction by BofA [1][2]. Financial Performance - AbbVie’s stock has increased over 28% since the beginning of 2025, supported by solid financial results [3]. - For the first nine months of the year, AbbVie reported a revenue increase of 8% year-over-year, totaling $44.5 billion [3]. - Adjusted earnings per share decreased to $7.29 from $7.96, primarily due to acquisition-related charges, which are attributed to timing and accounting rather than operational weaknesses [3]. Growth Outlook - The company has provided long-term guidance indicating high single-digit revenue growth through 2029, with an improved outlook in key areas [4]. - The sales forecast for the immunology drugs Skyrizi and Rinvoq has been raised by $4 billion, now expected to exceed $27 billion in combined sales by 2027, driven by strong demand [4]. - The oncology segment is anticipated to regain momentum, contributing positively to the overall growth narrative starting next year [5]. Company Overview - AbbVie operates as a global biopharmaceutical company focused on the discovery, development, manufacturing, and sale of innovative medicines for serious health conditions [5].