Eli Lilly price target lowered to $1,100 from $1,150 at BofA

BofA lowered the firm’s price target on Eli Lilly (LLY) to $1,100 from $1,150 and keeps a Buy rating on the shares. Lilly reported a “choppy quarter for Mounjaro and Zepbound,” but assured that the Mounjaro and Zepbound misses related to inventory dynamics and not supply/demand, the analyst tells investors. Overall, the firm remains positive on Lilly, “the Q3 hiccup notwithstanding,” but it is lowering its Mounjaro and Zepbound estimates “modestly,” the analyst added.