J.P. Morgan analyst Chris Schott has reiterated their bullish stance on LLY stock, giving a Buy rating on September 18.
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Chris Schott has given his Buy rating due to a combination of factors that highlight Eli Lilly & Co’s strong market position and growth potential. Despite the company’s stock being relatively flat year-to-date, Schott believes that the current valuation does not fully account for the positive operational trends and the reduced risk in Eli Lilly’s pipeline. He sees a compelling opportunity for the stock to outperform in the coming year, driven by a series of catalysts, including the launch of orforglipron and other pipeline developments.
Schott also points out that Eli Lilly is well-positioned to handle potential pricing pressures in the GLP-1 market due to its robust portfolio, which caters to a wide range of patient needs. The company’s strong growth prospects are further supported by its leadership in the GLP-1 market, with expectations of significant revenue and earnings growth through the early 2030s. Additionally, Eli Lilly’s diversified pipeline and limited risk of loss of exclusivity over the next decade reinforce Schott’s optimistic outlook, making it his top pick in the sector.
In another report released on September 18, Wells Fargo also maintained a Buy rating on the stock with a $1,100.00 price target.
Based on the recent corporate insider activity of 125 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of LLY in relation to earlier this year.