Tim Anderson, an analyst from Bank of America Securities, reiterated the Buy rating on Eli Lilly & Co. The associated price target remains the same with $1,000.00.
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Tim Anderson has given his Buy rating due to a combination of factors that highlight Eli Lilly & Co’s strong growth potential and strategic positioning in the market. The company’s revenue and earnings per share (EPS) estimates have seen modest increases, particularly driven by higher sales expectations for key products like Zepbound. Despite only minor adjustments to long-term forecasts, Eli Lilly’s valuation remains attractive, with a price objective set at $1,000, supported by a consistent target price-to-earnings (P/E) multiple.
Moreover, Eli Lilly’s leadership in the incretin/GLP1 obesity and diabetes franchise is a significant driver of its growth narrative. As one of the two dominant players in this category, the company is poised to capture a substantial market share. Additionally, the focus on new product launches and upcoming clinical readouts further supports the Buy rating, as these developments are expected to enhance the company’s competitive edge and growth trajectory.
In another report released yesterday, Wells Fargo also maintained a Buy rating on the stock with a $1,100.00 price target.