Bank of America raised its price target on AbbVie to $289 from $282 and reaffirmed a Buy rating, while lifting Johnson & Johnson to $278 from $263 and retaining Neutral. The divergent ratings reflect stronger confidence in AbbVie’s growth profile as both companies manage patent-related revenue losses. BofA analyst Tim Anderson cited AbbVie’s favorable loss-of-exclusivity timeline, investments in immunology, antibody-drug conjugates and neuroscience, and the pending $10.9 billion Apogee acquisition. For Johnson & Johnson, BofA raised its peak Icotyde psoriasis-sales forecast to $4.5 billion on 18% share, from $2.4 billion on 10% share, following a physician dermatology survey and early prescription demand. Johnson & Johnson reported second-quarter sales of $25.3 billion, while AbbVie’s revenue rose 10.2% to $16.99 billion. AbbVie trades at 16 times forward earnings versus 21 times for Johnson & Johnson, whose shares have also risen more this year. Both companies continue to pay substantial dividends, but biosimilar erosion and acquisition-related dilution remain risks. Existing catalysts include Johnson & Johnson’s Dec. 8, 2026 Enterprise Business Review and AbbVie’s expected U.S. decision on subcutaneous Skyrizi induction dosing for Crohn’s disease.