Eli Lilly (LLY) Stock Price: $355 Target And Overweight Rating

By Amit Chowdhry ● Jun 8, 2022
  • The shares of Eli Lilly And Co (NYSE: LLY) have received a $355 price target from JPMorgan. These are the details.

The shares of Eli Lilly And Co (NYSE: LLY) have received a $355 price target from JPMorgan. And JPMorgan analyst Chris Schott increased the price target on Eli Lilly from $340 while maintaining an “Overweight” rating on the shares.

Schott adjusted the rating while increasing estimates following the FDA approval of Mounjaro for type two diabetes as well as SURMOUNT-1 data in obesity. Now Schott sees Mounjaro generating peak sales of $12 billion-$13 billion in diabetes and he sees the product expanding the use of the GLP-1 class to earlier-stage patients. 

Plus now estimates more than a $10 billion opportunity, up from $6 billion to $8 billion for the product in obesity. And Schott estimates total Mounjaro peak sales of $25 billion and sees a pathway for Eli Lilly earnings per share to increase from $8.80 in 2022 to over $28 by 2030 before considering any contribution from donanemab.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.