Research

AbbVie delivered higher revenue, EPS and operating margins in Q2 FY2026. The print supports operating momentum, but our $251.6 fair value is close to the market price.

Abbott’s revenue held near the prior-year level, but operating margin and EPS declined sharply. Cash generation remains supportive, leaving the shares near fair value rather than clearly inexpensive.

Amgen produced strong reported margins and $1.477B of quarterly free cash flow. At $382.92, the shares already reflect a reasonable annualization of those results.

Growth Portfolio momentum and stronger Eliquis sales drove a material 2026 outlook increase. Margin pressure and legacy erosion keep the valuation case balanced.