Analyst Asad Haider from Goldman Sachs maintained a Buy rating on Eli Lilly & Co and keeping the price target at $883.00.
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Asad Haider has given his Buy rating due to a combination of factors surrounding Eli Lilly & Co’s upcoming events and financial outlook. The anticipation of the company’s second-quarter results, along with the potential outcomes of two significant clinical trials, is expected to influence the stock’s performance positively. These events are crucial as they could significantly impact investor sentiment and the broader obesity market theme.
Haider also notes the potential for Eli Lilly to exceed revenue expectations in the second quarter, driven by favorable foreign exchange conditions and strong growth in key products like Zepbound and Mounjaro. Additionally, there is an expectation that the company might revise its full-year revenue guidance upwards, which could further bolster investor confidence. Despite recent underperformance compared to peers, these upcoming developments present a promising opportunity for Eli Lilly’s stock, justifying the Buy rating.
According to TipRanks, Haider is a 3-star analyst with an average return of 5.9% and a 76.92% success rate. Haider covers the Healthcare sector, focusing on stocks such as Johnson & Johnson, Eli Lilly & Co, and Merck & Company.
In another report released today, BMO Capital also maintained a Buy rating on the stock with a $920.00 price target.