Analyst Tim Anderson from Bank of America Securities maintained a Buy rating on Eli Lilly & Co (LLY – Research Report) and keeping the price target at $997.00.
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Tim Anderson has given his Buy rating due to a combination of factors including Eli Lilly & Co’s strong potential for long-term growth, particularly in the GLP-1 obesity sector. Anderson notes that the company is well-positioned to capture a significant market share in this category due to its competitive advantages or ‘moats’ that provide a protective edge against competitors.
Furthermore, the company’s recent Q4 results were solid, with earnings per share exceeding expectations and overall revenues benefiting from a one-time gain related to its collaboration with Boehringer Ingelheim. Despite some anticipated volatility, Anderson views the stock as not expensive relative to its growth potential, reinforcing his positive outlook on Eli Lilly’s future performance.
In another report released yesterday, Wells Fargo also maintained a Buy rating on the stock with a $970.00 price target.
LLY’s price has also changed slightly for the past six months – from $793.180 to $870.370, which is a 9.73% increase.