Citi analyst Andrew Baum raised the firm’s price target on Eli Lilly to $525 from $360 and keeps a Buy rating on the shares. The firm says its Mounjaro and earnings forecasts are up to 50% above consensus given Mounjaro demand and anticipated capacity increases. Citi increased its combined Mounjaro and retatrutide estimates to $46B in 2035 from $28B, reflecting updated assumptions in its obesity model.
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