Eli Lilly price target raised to $440 from $375 at Wells Fargo

Wells Fargo raised the firm’s price target on Eli Lilly to $440 from $375 and keeps an Overweight rating on the shares. The setup looks good into continuous uptake of Mounjaro with solid quarterly results and positive SURMOUNT data, the analyst tells investors in a research note. The firm likes the setup into Novo SELECT data, which will likely hit and see risk/reward favorable into the Alzheimer’s trial.