Jason Gerberry, an analyst from Bank of America Securities, reiterated the Buy rating on Eli Lilly & Co. The associated price target is $1,268.00.
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Jason Gerberry has given his Buy rating due to a combination of factors including Eli Lilly & Co’s strategic initiatives and promising market opportunities. The company is set to benefit from the launch of its new obesity drug, Orfo, which is expected to drive significant growth in the GLP1 market. This launch is anticipated to broaden access to obesity treatments, especially with recent agreements with the US government that could enhance market penetration.
Additionally, Eli Lilly’s robust pipeline, including the Triple G drug targeting obesity-related hormones, positions the company well for future growth. The expected revenue growth, driven by the GLP1 franchise, and favorable operational leverage are also key factors supporting the Buy rating. Overall, the company’s strategic execution and potential for outsized earnings growth contribute to a positive outlook for its stock.
In another report released on December 12, Citi also maintained a Buy rating on the stock with a $1,500.00 price target.