Truist analyst Robyn Karnauskas raised the firm’s price target on Eli Lilly to $850 from $650 and keeps a Buy rating on the shares after its Q4 earnings beat and guidance. The firm is also citing its increased conviction in Eli Lilly pipeline and demand for Mounjaro and Type 2 diabetes and Zepbound for obesity, as observed from the first 9 weeks of launch on TRx share, the analyst tells investors in a research note. Zepbound TRx has been rapidly growing since launching in late November to 28% market share of obesity TRx market share as of January 19th, the firm added.
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