Eli Lilly's Upcoming Obesity Drugs Highlight Bright Future, Says Optimistic Analyst
Portfolio Pulse from Priya Nigam
Eli Lilly's shares were climbing during Friday's trading session. The stock has been under pressure due to macro uncertainties, not fundamental concerns, according to BofA Securities. Analyst Geoff Meacham reiterated a Buy rating on Eli Lilly, raising the price target from $600 to $700. Meacham highlighted the company's upcoming obesity drugs, including Mounjaro, as key value drivers. He also noted the company's potential for margin expansion and the early- and mid-stage pipeline as unappreciated parts of the story.
October 06, 2023 | 4:23 pm
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POSITIVE IMPACT
Eli Lilly's stock is expected to perform well due to positive analyst ratings and the potential of its upcoming obesity drugs. The raised price target from $600 to $700 also indicates a positive outlook.
The positive outlook for Eli Lilly is based on the analyst's Buy rating and the raised price target. The upcoming obesity drugs, including Mounjaro, are expected to be key value drivers for the company, which could positively impact the stock price. The potential for margin expansion and the early- and mid-stage pipeline are also seen as positive factors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100