Eli Lilly price target raised to $1,050 from $1,000 at Berenberg

Berenberg analyst Kerry Holford raised the firm’s price target on Eli Lilly to $1,050 from $1,000 and keeps a Buy rating on the shares. The company reported “strong” Q2 results, significantly beating consensus expectations and management raised 2024 guidance, citing strong Mounjaro and Zepbound performance, as well as increased clarity on the timing and pace of incretin supply expansion, the analyst tells investors in a research note.