These Analysts Increase Their Forecasts On AbbVie After Strong Q3 Results

Benzinga Earnings11-02 21:33

AbbVie Inc. (NYSE:ABBV) on Friday reported better-than-expected third-quarter 2026 results and raised its full-year outlook.

AbbVie reported third-quarter sales of $17.404 billion, up 10.3% year over year on a reported basis and 10.5% on an operational basis, beating the Wall Street estimate of $17.314 billion. Adjusted earnings of $3.82 per share topped the analyst consensus estimate of $3.75.

"AbbVie continues to deliver outstanding results, reflecting solid execution across our diverse portfolio," said Robert Michael, chairman and CEO.

AbbVie raised its full-year 2026 revenue forecast to $67.8 billion from $67.6 billion, above the Wall Street estimate of $67.585 billion. The company raised its 2026 adjusted earnings forecast to $13.95-$13.99 per share from $13.76-$13.96, above the analyst consensus estimate of $13.93.

AbbVie shares rose 0.1% to $295.15 in pre-market trading.

These analysts made changes to their price targets on AbbVie following earnings announcement.

Cantor Fitzgerald analyst Carter Gould maintained the stock with an Overweight rating and raised the price target from $290 to $325.
Canaccord Genuity analyst Gary Nachman maintained the stock with a Buy and boosted the price target from $290 to $338.
RBC Capital analyst Trung Huynh maintained the stock with an Outperform rating and lifted the price target from $280 to $330.

Considering buying ABBV stock? Here’s what analysts think:

Photo via Shutterstock

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(NYSE:ABBV) on Friday reported better-than-expected third-quarter 2026 results and raised its full-year outlook.\nAbbVie reported third-quarter sales of $17.404 billion, up 10.3% year over year on a reported basis and 10.5% on an operational basis, beating the Wall Street estimate of $17.314 billion. Adjusted earnings of $3.82 per share topped the analyst consensus estimate of $3.75.\n\"AbbVie continues to deliver outstanding results, reflecting solid execution across our diverse portfolio,\" said Robert Michael, chairman and CEO.\nAbbVie raised its full-year 2026 revenue forecast to $67.8 billion from $67.6 billion, above the Wall Street estimate of $67.585 billion. The company raised its 2026 adjusted earnings forecast to $13.95-$13.99 per share from $13.76-$13.96, above the analyst consensus estimate of $13.93.\nAbbVie shares rose 0.1% to $295.15 in pre-market trading.\nThese analysts made changes to their price targets on AbbVie following earnings announcement.\n\nCantor Fitzgerald analyst Carter Gould maintained the stock with an Overweight rating and raised the price target from $290 to $325.\nCanaccord Genuity analyst Gary Nachman maintained the stock with a Buy and boosted the price target from $290 to $338.\nRBC Capital analyst Trung Huynh maintained the stock with an Outperform rating and lifted the price target from $280 to $330.\n\nConsidering buying ABBV stock? Here’s what analysts think:\n\nPhoto via Shutterstock","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.52.1","shortVersion":"4.52.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2680504557","isCrawlerRequest":true}