AbbVie shares slip modestly as analysts lift price targets

AbbVie (NYSE:ABBV) fell about 1.1% during mid‑day trading, touching a low of $247.99 and ending around $249.98. The move came amid a wave of analyst upgrades, with Bank of America raising its price objective to $276 from $234, Wells Fargo to $295, and several other firms moving targets higher, resulting in a consensus moderate‑buy rating and an average target price of roughly $263.

Institutional investors also adjusted their positions: Norges Bank added a new stake worth about $5.9 billion, while Wellington Management, Capital World Investors and others increased holdings. The company reported Q2 earnings of $2.65 per share, beating expectations, with revenue of $15 billion, a 12.4% year‑over‑year increase, and a quarterly dividend of $1.73 per share.