Solid quarter; Skyrizi growth and combos remain in focus

研报英文原文证据摘录

Solid quarter; Skyrizi growth and combos remain in focus

Update

July 31, 2026 08:27 PM GMT

Morgan Stanley & Co. LLCMAbbvie Inc. | North America Terence C Flynn, Ph.D.

Equity Analyst

Solid quarter; Skyrizi growth Terence.Flynn@morganstanley.comAlexander Yevdokimov, Ph.D. +1 212 761-2230

Research Associate

Alexander.Yevdokimov@morganstanley.com +1 212 761-2167

and combos remain in focus Hailey Horowitz

What’s Changed Hailey.Horowitz@morganstanley.com +1 212 761-5264

Chris Yu, J.D., Ph.D.

Abbvie Inc. (ABBV.N) From To Equity Analyst

Price Target $278.00 $296.00 Chris.L.Yu@morganstanley.com +1 212 761-2535

Connor M Massari

AlphaSignals Earnings Reaction Connor.Massari@morganstanley.com +1 212 761-2417

Damien H Kerner

Unchanged Modest upside Largely unchanged

Impact to our thesis Financial results versus consensus Direction of next 12-month

Damien.H.Kerner@morganstanley.com +1 212 761-3829

consensus EPS

Source: Company data, Morgan Stanley Research Morgan Stanley India Company Private Limited+

Saket Agarwal

ABBV posted solid 2Q results; while the magnitude of the ResearchSaket.Agarwal@morganstanley.comAssociate +91 22 6995-4012

Skyrizi beat got some attention (given competitive dynamics),

we see upcoming approval of SQ formulation and presentation Abbvie Inc. (ABBV.N, ABBV UN)

of Skyrizi Ph2 combo data as important catalysts, and we Major Pharmaceuticals | United States of America

Stock Rating Overweight

reiterate our OW rating. Industry View In-Line

Price target $296.00

ABBV posted a 2Q top-line beat and slightly raised 2026 rev guidance (see our Shr price, close (Jul 30, 2026) $257.41

Mkt cap, curr (mm) $455,873

first take HERE and below). Revenue guidance was raised to ~$67.6bn (+$300mn) 52-Week Range $267.44-187.64

vs.