Eli Lilly's Solid Portfolio Alzheimer's & Diabetes Drugs To Aid Sales Growth: Analyst
Portfolio Pulse from Nabaparna Bhattacharya
Truist Securities analyst Robyn Karnauskas has reiterated a Buy rating on Eli Lilly And Company (LLY), raising the price target to $525 from $430. Karnauskas believes LLY is building a solid franchise in Alzheimer's disease and diabetes/obesity led by donanemab and Mounjaro. The analyst raised donanemab sales estimates for FY23 from $5 billion to $8 billion and Mounjaro sales estimates for FY23 to $41 billion from $33 billion. For FY23, Karnauskas expects LLY's revenues to jump 9.7% to $31.32 billion.
July 20, 2023 | 5:36 pm
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POSITIVE IMPACT
Eli Lilly's stock is expected to benefit from the raised price target and increased sales estimates for its Alzheimer's and diabetes drugs. The company's FY23 revenues are expected to jump 9.7% to $31.32 billion.
The raised price target and increased sales estimates for Eli Lilly's key drugs indicate a positive outlook for the company. This is likely to attract investors, driving up the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100