AbbVie Earnings Preview: Will Humira's Expiry, New CEO Fuel A Bullish Surge?
Portfolio Pulse from Surbhi Jain
AbbVie Inc (NYSE:ABBV) is set to report its Q2 earnings with Wall Street expecting $2.96 EPS and $14 billion in revenues. Investors are keen on the impact of Humira's patent expiry and the performance of its replacements under new CEO Robert A. Michael. The stock shows a bullish trend, trading above key moving averages, with a consensus analyst rating of 'Overweight' and a price target of $173, potentially rising to $203.33.
July 24, 2024 | 2:16 pm
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AbbVie is set to report Q2 earnings with expectations of $2.96 EPS and $14 billion in revenues. Investors are focused on the impact of Humira's patent expiry and the performance of its replacements under new CEO Robert A. Michael. The stock shows a bullish trend, trading above key moving averages, with a consensus analyst rating of 'Overweight' and a price target of $173, potentially rising to $203.33.
The upcoming earnings report, coupled with the focus on Humira's patent expiry and the new CEO's strategy, is likely to drive investor sentiment. The bullish technical indicators and positive analyst ratings further support a potential short-term price increase.
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