Eli Lilly Is Best-In-Class Growth, Says Analyst While Initiating Coverage

  • Credit Suisse has initiated coverage on Eli Lilly And Co LLY with an Outperform rating and a price target of $395.
  • Management has delivered a remarkable performance against a challenging backdrop. However, with the stock at an all-time high valuation, the key question is whether it can continue this momentum. 
  • The analysts are optimistic and believe that Eli Lilly has industry-leading growth in the short- and long-term, unhampered by loss of exclusivity (LOE). 
  • Related: Eli Lilly Says Q3 Earnings Supported By Key Products and Volume, Cuts FY22 Outlook.
  • Credit Suisse notes some turbulence if Mounjaro cannot hit short-term quarterly numbers, with supply concerns, but in the long term, it is expected to be one of the most valuable drugs in Pharma. 
  • Several investors remain offside given the binary donanemab TRAILBLAZER-2 Alzheimer’s Phase 3 data expected in mid-2023, but analysts think the setup is skewed to the upside.
  • The analyst believes the Street is underappreciating the obesity market size given the impressive data and favorable reimbursement with Wegovy. Donanemab (Alzheimer’s) should continue to dominate the headlines.
  • Price Action: LLY shares are down 0.23% at $359.93 on the last check Friday.
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