Analyst Jason Gerberry of Bank of America Securities reiterated a Buy rating on Eli Lilly & Co, retaining the price target of $1,268.00.
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Jason Gerberry has given his Buy rating due to a combination of factors tied to Eli Lilly’s leadership in the obesity treatment market and the strategic value of its pipeline. He views the recent Phase 3 ATTAIN-MAINTAIN data for orforglipron, Lilly’s oral GLP-1 candidate, as an incremental but meaningful positive that strengthens its competitive positioning versus Novo Nordisk. The study suggests that patients who lose weight on injectable therapies like Wegovy can largely sustain those results when transitioned to orforglipron, which should give Lilly’s sales force a compelling story as the market shifts toward oral maintenance options. Although the data do not prompt changes to his financial forecasts, he believes they enhance Lilly’s ability to defend and capture share in a rapidly expanding obesity category.
Gerberry’s price objective of $1,268 is based on applying a 30x P/E multiple to his estimate of Lilly’s 2027 underlying EPS, reflecting confidence in sustained earnings growth. He expects Lilly to continue benefiting from successful obesity product launches and from reducing risk across a broad portfolio of next-generation therapies that target almost every segment of this market. In his view, Lilly is one of only two companies positioned to dominate obesity treatments over the long term, supported by strong competitive advantages that should preserve its market leadership as global category sales potentially exceed $100 billion. He also notes that Lilly’s non-obesity franchises—in oncology, immunology, and Alzheimer’s disease—remain fundamentally robust, providing additional support for the Buy rating.
In another report released on December 16, Daiwa also upgraded the stock to a Buy with a $1,230.00 price target.
LLY’s price has also changed moderately for the past six months – from $785.030 to $1056.880, which is a 34.63% increase.