Berenberg analyst Kerry Holford lowered the firm’s price target on Eli Lilly (LLY) to $970 from $1,050 and keeps a Buy rating on the shares. The company provided a “robust defense” of its Q4 miss and provided some reasons to be optimistic about 2025, the analyst tells investors in a research note. However, Lilly’s update, in addition to Novo Nordisk’s disappointing CagriSema result, “have shaken investor confidence in the obesity market opportunity,” contends the firm.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LLY:
- Eli Lilly’s Omvoh for Crohn’s disease approved by FDA
- Eli Lilly Q4 miss brings buying opportunity, says JPMorgan
- Leerink remains bullish on Eli Lilly despite lower Q4 revenue guidance
- Lilly cuts FY24 outlook, United Rentals to acquire H&E: Morning Buzz
- Eli Lilly (NYSE:LLY) Shares Plunge as Q4 Guidance Disappoints