12:00 PM EDT, 07/26/2024 (MT Newswires) -- AbbVie ( ABBV ) is expected to deliver mid- to high-single-digit revenue and earnings per share growth through 2030, the second highest in the industry, as its immunology franchise continues to deliver, Morgan Stanley said in a note Friday.

The investment firm said that besides its key immunology drug Humira, AbbVie ( ABBV ) now has Skyrizi and Rinvoq as well as integrating the 2019 Allergan acquisition for an aesthetics franchise.

"We expect ABBV to further execute on this strategy, including derisking its mid to late-stage pipeline," Morgan Stanley said.

AbbVie ( ABBV ) also anticipates completing its pending Cerevel acquisition next week as it has complied with the US Federal Trade Commission's second request, the note said.

The investment firm said it now expects AbbVie's ( ABBV ) 2024 and 2025 EPS at $11.06 and $12.27, respectively, higher than the prior estimates of $10.92 and $12.20, mainly due to expected higher Rinvoq and Skyrizi sales estimates.

Morgan Stanley raised AbbVie's ( ABBV ) price target to $211 from $196 and maintained an overweight rating on the stock.

Price: 185.00, Change: +2.83, Percent Change: +1.55