Eli Lilly price target raised to $1,135 from $1,133 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Eli Lilly (LLY) to $1,135 from $1,133 and keeps an Overweight rating on the shares. Year-to-date, large cap pharma and biotech companies have both underperformed given the macro environment, while multiple areas of policy uncertainty remain, including drug pricing dynamics, tariff and transfer pricing exposure, and FDA staffing changes, the analyst tells investors in a research note.