On July 16, AbbVie rose 3.01% in regular trading, trading at approximately $251.72 per share, with turnover of $2.33 billion. The rally was driven by a wave of Wall Street price target upgrades over recent sessions.

On the news front, several major investment banks raised their price targets on AbbVie in quick succession. Citigroup lifted its target to $260 from $230 on July 15, while UBS similarly raised to $260 from $230. Bank of America significantly increased its target to $276 from $234, naming AbbVie a top pick in biopharma. RBC Capital Markets maintained an outperform rating and raised its target to $280 from $260, citing improved sentiment following the recent Apogee acquisition. FactSet consensus shows an average overweight rating with a mean price target of $266.60. The upgrades come ahead of AbbVie's Q2 earnings report scheduled for July 31, with analysts expecting adjusted EPS of $3.57-$3.61 after factoring in $291 million of acquired IPR&D expenses disclosed in a recent guidance update.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)