Eli Lilly's Commercial Moat, Competitor Landscape: BofA Emphasizes Strength in Incretin Space, Undervalued Assets
Portfolio Pulse from Vandana Singh
Eli Lilly (LLY) is highlighted by BofA Securities as a top biopharma pick, with a remarkable +29% YTD performance. BofA raised its price target for LLY to $1000 from $800, citing undervalued opportunities in heart disease, sleep apnea, and liver disease, and the potential of Mounjaro and Zepbound. Novo Nordisk (NVO) is also noted for its expertise in the incretin space alongside LLY. Both companies are working to meet demand spikes, with LLY doubling its incretin drug production capacity.
March 01, 2024 | 8:45 pm
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POSITIVE IMPACT
Eli Lilly's stock is positively impacted by BofA's raised price target to $1000 and recognition of undervalued opportunities in its pipeline.
BofA's raised price target and the acknowledgment of undervalued opportunities in Eli Lilly's pipeline, along with its strong YTD performance, suggest a positive short-term impact on LLY's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Novo Nordisk is recognized alongside Eli Lilly for its expertise in the incretin space, indicating a strong competitive position.
The recognition of Novo Nordisk's expertise in the incretin space alongside Eli Lilly by BofA suggests a positive outlook for NVO, especially considering the efforts to meet demand spikes.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80