Wolfe Research initiated coverage of AbbVie (ABBV) with an Outperform rating and $205 price target The firm noted that AbbVie sounded “quite confident” on immuno-inflammation contracting for 2025 on its Q3 earnings call. With outperformance expected for the company’s core I&I business and the recent share pullback following emraclidine’s Phase 2 failure in Schizophrenia, the firm would argue the current valuation is an increasingly attractive entry point.
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