Eli Lilly price target raised to $853 from $814 at Jefferies

Jefferies raised the firm’s price target on Eli Lilly (LLY) to $853 from $814 and keeps a Buy rating on the shares. Orforglipron is vital to Lilly’s GLP-1 strategy, and “one of the few meaningful ways” that its obesity portfolio differentiates from Novo Nordisk (NVO), says the analyst, who is “getting more bullish on Orfo’s safety.” The firm models about $14B in risk-adjusted peak sales for orfo, versus the $11B consensus forecast, the analyst noted.