Analyst Asad Haider of Goldman Sachs maintained a Buy rating on Eli Lilly & Co, retaining the price target of $883.00.
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Asad Haider’s rating is based on several key factors that contribute to a positive outlook for Eli Lilly & Co. Despite the SURPASS-CVOT trial results showing Mounjaro’s non-inferiority to Trulicity with an 8% reduction in major adverse cardiovascular events, the results did not achieve statistical significance. However, this outcome aligns with expectations and removes one of the three major uncertainties surrounding the stock.
Furthermore, Haider anticipates a strong performance in the upcoming 2Q25 earnings, with particular attention on the management’s guidance for the latter half of the year and the results of the ATTAIN-1 trial for the oral obesity pill, orforglipron. The resolution of these events is expected to drive significant investor interest and potentially lead to a notable increase in the stock’s value. Haider’s valuation applies a 28.0x P/E multiple to future earnings, resulting in a 12-month price target of $883, supporting the Buy rating.
In another report released yesterday, Wells Fargo also maintained a Buy rating on the stock with a $1,100.00 price target.
LLY’s price has also changed slightly for the past six months – from $811.080 to $740.070, which is a -8.75% drop .