Eli Lilly price target raised to $1,100 from $910 at UBS

UBS raised the firm’s price target on Eli Lilly to $1,100 from $910 and keeps a Buy rating on the shares as part of a Q2 earnings preview for the U.S. pharmaceuticals group. The firm is 2% lower than consensus estimates for Q2 revenues on less Trulicity sales. However, UBS increased its 2025 earnings per share estimate to $21.02 from $20.52 based on higher near-term Zepbound sales following better than expected data for sleep apnea. With stronger near-term cash flows from orforglipron, higher sales from injectable GLPs, and increasingly favorable access versus competitors, Lilly deserves continued multiple expansion at a premium to peers, the analyst tells investors in a research note.