Eli Lilly price target raised to $1,030 from $884 at Guggenheim

Guggenheim raised the firm’s price target on Eli Lilly to $1,030 from $884 and keeps a Buy rating on the shares. The guidance increase again reflects Eli Lilly’s overall business momentum keyed to rapidly expanding incretin supply and unprecedented obesity market demand, the analyst tells investors in a research note. The guidance highlights accelerating profitability and the firm’s review of Lilly’s rapidly advancing pipeline increases its confidence in sustained business momentum.