Morgan Stanley raised the firm’s price target on Eli Lilly to $1,106 from $1,083 and keeps an Overweight rating on the shares, which the analyst also moved to “Top Pick” following the company’s Q2 outperformance, FY24 guidance raise, and commentary on the forward outlook. The firm continues to see upside to consensus GLP-1 estimates and says “the margin story is playing out as we previewed.”
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