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AbbVie Stock Rises After BMO Lifts Price Target to $300 on Skyrizi Strength
AbbVie Inc. (ABBV) shares rose in pre-market trading on Monday after BMO Capital raised its price target on the pharmaceutical firm, citing confidence in the sales endurance of its key immunology drug, Skyrizi.
Analyst Upgrade Drives Gains
BMO Capital increased its price target on AbbVie to $300 from a previous $258, while reiterating its Outperform rating on the stock, according to a note published Monday. The firm highlighted Skyrizi's sustained revenue performance, noting it has faced limited competitive pressure since the first-quarter launch of a rival therapy, Icotyde.
This latest upgrade follows a series of recent price target increases from other Wall Street firms, including RBC Capital, Wells Fargo, and Bank of America. According to Investing.com, analysts have consistently pointed to the strength of AbbVie's broader immunology franchise as a primary driver for their positive outlook.
Near-Term Catalysts and Market Context
AdInvestor attention is also focused on several upcoming events that could influence the stock's performance. These near-term catalysts include:
- A quarterly dividend of $1.73 per share, which has an ex-dividend date of July 15.
- The company's second-quarter 2026 earnings report, scheduled for release on July 31.
The stock's pre-market gain of 0.8% occurred within a modestly positive market environment, with U.S. equity futures pointing higher. Investors are awaiting key U.S. economic data later in the week, including June CPI figures and testimony from the Federal Reserve Chairman, which could impact broader market sentiment.