Berenberg raises AbbVie PT on higher immunology drug sales

Berenberg raises PT on drugmaker AbbVie ABBV.N to $195 from $165, citing higher immunology drug sales

New PT is a 8.7% downside to stock's last close

Brokerage says AbbVie knows the autoimmune market well

Says co reduced exposure to antirheumatic drug Humira and bolstered cash flows through acquisition of Allergan

"We now forecast $36 bln peak sales for Skyrizi to give an NPV of $60/share (32% of total)," says brokerage

Skyrizi is used to treat psoriasis and other inflammatory conditions

Nineteen of 27 brokerages rate stock "buy" or higher, and 8 "hold; median PT is $215 - data compiled by LSEG

ABBV up 20.2% YTD as of last close; up ~15% in 2024