JPMorgan raised the firm’s price target on Eli Lilly to $1,000 from $900 and keeps an Overweight rating on the shares ahead of the Q2 earnings report. The firm is modestly below consensus on Q2, largely on Trulicity being offset by Zepbound and Mounjaro, but in line with company guidance for the year. Selling prices for both Mounjaro and Zepbound remain a source of debate, says the analyst, who continues to see upside to longer term estimates.
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