Jefferies analyst Akash Tewari upgraded Eli Lilly to Buy from Hold with $615 price target, up from $408 prior. The analyst is citing two positive GLP-1 data points today, with SELECT trial exceeding the firm’s base case and its Mounjaro sales exceeding consensus estimates by 28%. The firm is also boosting its Mounjaro peak sales view to $70B and its orforglipon view to $8.5B.
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