AbbVie (ABBV) Stock Forecast & Price Target

AbbVie is viewed positively because its core immunology franchise remains highly durable, with Skyrizi and Rinvoq expected to offset Humira declines and support continued top-line beats, while oncology assets like Imbruvica, Venclexta, and Epkinly broaden earnings resilience. The company’s ability to post a third consecutive beat-and-raise, generate predictable double-digit EPS growth, and maintain a roughly 3% dividend reflects strong cash generation and a capital-efficient model that can also fund ~$10-15bn of bolt-on M&A. Its 2020 Allergan deal and 2024 Cerevel and ImmunoGen acquisitions further diversify the portfolio, while no meaningful LOEs this decade support confidence in sustained growth.

AbbVie is vulnerable to slowing core growth because Imbruvica TRx are already down 17% y/y and pricing continues to come down, while heavy reliance on Skyrizi and Rinvoq leaves the business exposed if immunology competition intensifies or patents are challenged. The outlook is further pressured by expected 3Q 2026 net revenues of $17.29Bn versus $17.31Bn and EPS of $3.75 versus $3.85, alongside a $216MM pre-tax acquired IPR&D and milestones charge that trims EPS by $0.11. Although acquisitions have broadened the portfolio, integration risk, elevated litigation and pricing pressure, and an aesthetics segment that was ~8% of FY 2025 sales and depends on discretionary spending all undermine margin durability and earnings consistency.