ABBV
Tiny haircut, same hairstyle
Evercore ISI didn’t exactly hit AbbVie with a buzz cut. It shaved the price target to $232 from $233 and left the Outperform rating in place, which is analyst-speak for: “We still like the stock, we’re just squinting a little harder at the math.”
Why this matters
For investors, the bigger story isn’t the one-dollar trim. It’s the timing. Evercore’s tweak came after AbbVie’s recent preliminary Q1 and full-year 2026 guidance cut, which already told the market that earnings are going to look a bit softer than hoped.
The catalyst behind the curtain
AbbVie said the downgrade in its outlook was driven by $744 million in pre-tax expenses tied to acquired in-process R&D and milestone payments. That hit earnings by $0.41 per share, which is the kind of accounting surprise that makes even a giant pharma name feel like it just stepped on a Lego.
- Full-year 2026 adjusted EPS now expected at $13.96 to $14.16
- Prior guidance was $14.37 to $14.57
- Wall Street had been looking for around $14.52
- Q1 EPS guide is now $2.56 to $2.60, down from a prior $2.97 to $3.01
Big picture
So, no, this isn’t an analyst throwing in the towel. But it is a reminder that AbbVie’s near-term earnings story is getting a little messier, and that can cap enthusiasm even when the long-term thesis is still intact. In other words: the runway is still there, but the landing lights just got dimmer.