Home / Business and Economy / Bank of America Boosts Eli Lilly: Obesity Drugs Drive Huge Upside
Bank of America Boosts Eli Lilly: Obesity Drugs Drive Huge Upside
2 Dec
Summary
- Bank of America raised its price target for Eli Lilly stock to $1,286.
- Eli Lilly maintains a leading position in the crucial obesity and diabetes market.
- New drug launches are expected to accelerate Eli Lilly's revenue growth.
Bank of America has reiterated its 'buy' rating for Eli Lilly, significantly increasing its price target to $1,286 from $950, signaling a projected 22% growth. Analyst Tim Anderson highlighted Eli Lilly's firm leadership in the substantial obesity and diabetes market, driven by its GLP-1 drugs, Zepbound and Mounjaro. He expressed confidence in the company's ability to maintain this leading edge, forecasting sustained exceptional growth for many years.
Further bolstering this optimistic outlook is Eli Lilly's robust pipeline of new medications. Anderson anticipates the launch of the oral medication orforglipron by early 2026, sooner than previously expected, which will positively impact revenue and earnings forecasts. Additionally, the company is advancing its high-potency drug, retatrutide, with initial results anticipated by year-end.
