Citi Monitors Competitive Threats To Eli Lilly, Says It Is Positioned To Maintain Leadership And Expand
Portfolio Pulse from Vandana Singh
Citi Research has increased the price target for Eli Lilly (LLY) from $675 to $895, citing increased anticipated sales for its GLP-1 agonist orforglipron. The firm acknowledges competitive threats but believes Eli Lilly and Novo Nordisk (NVO) will maintain market leadership. Despite potential challenges from generic semaglutide and legislative changes, Eli Lilly's diabetes drug Mounjaro faces a tight supply until 2024. LLY shares rose 0.37% to $763.36.
April 02, 2024 | 6:41 pm
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POSITIVE IMPACT
Citi Research raised Eli Lilly's price target to $895, optimistic about its GLP-1 agonist orforglipron's sales and its ability to maintain market leadership despite competitive threats.
The increase in Eli Lilly's price target by Citi Research, based on the potential of orforglipron and the company's market position, suggests a positive outlook for the stock. The acknowledgment of competitive threats but confidence in market leadership indicates a strong position in the market, likely leading to investor optimism.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Citi Research notes competitive threats to Novo Nordisk but believes it, alongside Eli Lilly, will maintain market leadership despite challenges.
Citi Research's mention of Novo Nordisk alongside Eli Lilly in maintaining market leadership despite competitive threats and potential challenges from generics and legislative changes suggests a positive but cautious outlook. The firm's confidence in their market position indicates potential for continued investor interest.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75