Eli Lilly price target raised to $633 from $565 at BMO Capital

BMO Capital analyst Evan Seigerman raised the firm’s price target on Eli Lilly to $633 from $565 and keeps an Outperform rating on the shares. The Mounjaro outperformance paired with Novo SELECT data bolster the firm’s outlook for uptake in T2D, the analyst tells investors in a research note. While manufacturing remains constrained, the new RTP site and Trulicity autoinjector synergies with Mounjaro’s injector help Lilly prepare for mounting demand, the firm added.