Eli Lilly initiated with an Outperform at RBC Capital

RBC Capital initiated coverage of Eli Lilly (LLY) with an Outperform rating and $1,250 price target The firm sees the company’s obesity franchise dominating through 2030. Why investor sentiment is largely positive, there “remains some nervousness on elevated expectations” and positioning risks as Lilly reapproaches a $1 trillion market cap, the analyst tells investors in a research note. RBC believes the consensus “materially undervalues” the company’s “transformative catalysts on the horizon.”