Berenberg analyst Kerry Holford raised the firm’s price target on Eli Lilly (LLY) to $500 from $375 and keeps a Buy rating on the shares. Novo Nordisk (NVO) and Eli Lilly have “banked the strongest share price performance” year-to-date and their valuation multiples retain a significant premium over peers, but this is “warranted” given the significant growth opportunity the obesity market promises for both companies, the analyst tells investors.
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