JPMorgan analyst Chris Schott raised the firm’s price target on Eli Lilly to $510 from $475 and keeps an Overweight rating on the shares ahead of the Q2 results. Lilly remains one of the firm’s favorite names in the group as it sees “meaningful upside” to Street estimates for Mounjaro and the company’s broader incretin portfolio over time as well as a favorable setup on the stock heading into a number of important catalysts in 2023 and early 2024. The analyst does not see any major surprises on numbers in Q2.
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