Citi opens “90-day upside catalyst watch” on Eli Lilly (LLY) while keeping a Buy rating on the shares with a $1,190. The 6% selloff yesterday on Novo Nordisk’s (NVO) guidance cut was unwarranted, the analyst tells investors in a research note. Citi believes demand for Lilly’s tirzepatide was “very robust” in Q2 with share gains versus Novo. The firm sees a “very favorable” for the shares post the selloff.
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