In a report released today, Geoff Meacham from Citi reiterated a Buy rating on Eli Lilly & Co (LLY – Research Report), with a price target of $1,190.00.
Geoff Meacham’s rating is based on several key factors that suggest a positive outlook for Eli Lilly & Co. The recent statement from the FDA, which expressed concerns over compounded GLP-1s, is expected to have a favorable impact on Lilly’s stock. The FDA highlighted issues such as safety, efficacy, and quality oversight, particularly in relation to Lilly’s tirzepatide, which underscores the competitive advantage of Lilly’s legally marketed products.
Furthermore, the FDA’s proactive stance in restricting the use of Lilly’s retatrutide in compounding reinforces the company’s market position. These developments support the belief that Lilly’s revenue guidance for 2025, projected between $58 billion and $61 billion, is both conservative and attainable. Consequently, the Buy rating is reiterated with a target price of $1,190, anticipating a significant share price return of 46.3%.
In another report released on March 10, Morgan Stanley also reiterated a Buy rating on the stock with a $1,146.00 price target.
Based on the recent corporate insider activity of 140 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of LLY in relation to earlier this year.
Questions or Comments about the article? Write to editor@tipranks.com