Eli Lilly price target raised to $1,000 from $800 at BofA

BofA raised the firm’s price target on Eli Lilly to $1,000 from $800 and keeps a Buy rating on the shares. Even with strong year-to-date performance, Lilly remains a favorite name among the firm’s Biopharma coverage based on peer-leading revenue growth, margin expansion, and “a compelling pipeline,” the analyst tells investors. While investors clearly recognize the commercial opportunity for Mounjaro in diabetes and Zepbound in obesity, the firm argues that additional opportunities in heart disease, obstructive sleep apnea and liver disease are “vastly underappreciated.”