Piper Sandler expressed confidence in Abbvie's maturing pipeline, including a growing antibody-drug conjugate footprint and next-generation immunology-focused products, positioning the company to weather its own wave of patent expirations through the 2030s, supporting potential multiple expansion from its current EV/2026E EBITDA of approximately 12.5x. In other recent news, AbbVie reported its second-quarter 2025 earnings, surpassing expectations with an earnings per share (EPS) of $2.97, slightly above the forecast of $2.96. The company also exceeded revenue projections, posting $15.4 billion compared to the anticipated $14.99 billion. This performance prompted AbbVie to raise its full-year guidance despite challenges from its Humira product. Bernstein SocGen Group reiterated its Market Perform rating for AbbVie, maintaining a price target of $203.00 following the earnings report. These developments reflect the company's strong financial performance in the recent quarter.