Eli Lilly price target raised to $600 from $500 at BofA

BofA analyst Geoff Meacham raised the firm’s price target on Eli Lilly (LLY) to $600 from $500 and keeps a Buy rating on the shares following what the firm calls “an impressive 2Q print” and guidance raise. The firm would characterize yesterday as “a best-case result for Lilly,” especially given Novo Nordisk’s (NVO) SELECT CV trial’s robust result and investors’ recent concerns on Mounjaro reimbursement, the analyst tells investors in a post-earnings note. Lilly “continues to fire on all cylinders on both its clinical and commercial portfolios,” which is the basis for its peer-leading growth profile, the analyst added.