Positive Outlook for Eli Lilly & Co Driven by Strong Product Performance and International Growth

Mohit Bansal, an analyst from Wells Fargo, maintained the Buy rating on Eli Lilly & Co. The associated price target remains the same with $1,100.00.

Mohit Bansal’s rating is based on the anticipation of strong performance from Eli Lilly & Co’s key products, particularly Tirzepatide and Zepbound. The analyst expects Tirzepatide to surpass market expectations by a small margin, contributing to a potential increase in the company’s fiscal year 2025 guidance. Additionally, the uptake of Zepbound vials is projected to lead to a significant upside compared to consensus estimates, which could further bolster the company’s financial outlook.
Despite some concerns regarding changes in the CVS formulary, which might impact a portion of the patient base, Bansal believes that the growth in Mounjaro’s sales outside the United States will compensate for any potential softness in other areas. The analyst also highlights the underestimation of Mounjaro’s post-launch growth in overseas markets, suggesting that these factors collectively support a positive outlook for Eli Lilly & Co’s stock, justifying the Buy rating.

According to TipRanks, Bansal is a 4-star analyst with an average return of 3.3% and a 51.61% success rate. Bansal covers the Healthcare sector, focusing on stocks such as Gilead Sciences, Pfizer, and Biogen.

In another report released yesterday, J.P. Morgan also maintained a Buy rating on the stock with a $1,100.00 price target.