Worries about AbbVie’s Humira keep Piper Jaffray on sidelines

Piper Jaffray analyst Christopher Raymond said he finds “little to quibble with” in AbbVie’s Q2 report, but also noted that while its FY18 EPS guidance was raised, its revenue guidance actually came down slightly. Raymond, who continues to worry that consensus does not fully factor in the extent of ex-U.S. Humira pressure or the further pressure from co-pay accumulator programs in the U.S., prefers to stay on the sidelines and keeps a Neutral rating on the shares. He also lowered his price target on AbbVie to $100 from $105.

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