AbbVie Predicted to Reach $297.71 by Year's End
AbbVie's (NYSE:ABBV) year-end call is looking bright, according to 24/7 Wall St.'s latest analysis. The financial news outlet predicts that AbbVie will end the year at $297.71, a 20.92% increase from its current price of $246.20.
The prediction comes on the back of AbbVie's impressive Q2 2026 revenue figures, which landed at $16.99 billion, up 10.2%. The company's Skyrizi and Rinvoq treatments continue to drive growth, with combined revenue increasing by 24.4%.
AbbVie's forward P/E of 18 looks reasonable compared to its peers, including Merck (NYSE:MRK) with a forward P/E of 48 and Bristol Myers Squibb (NYSE:BMY) with a forward P/E of 10. The company's acquisition of Apogee Therapeutics is also expected to close in Q3 2026, adding to its revenue base.
However, there are risks to consider. Humira revenue fell 35.9% and Imbruvica dropped 29.4%, and management trimmed FY26 EPS guidance to $13.87, $14.07 to absorb $0.14 of Apogee dilution. A trailing P/E of 71 looks stretched, with one independent AI model pinning fair value at $198.76.