Eli Lilly (LLY) Stock: $315 Price Target And Buy Rating

By Amit Chowdhry ● Mar 26, 2022
  • The shares of Eli Lilly And Co (NYSE: LLY) have received a $315 price target from BofA. These are the details.

The shares of Eli Lilly And Co (NYSE: LLY) have received a $315 price target from BofA. And BofA analyst Geoff Meacham increased the price target on Eli Lilly from $300 while maintaining a “Buy” rating on the shares. 

Meacham noted that obesity has historically been an overlooked indication, but Novo Nordisk’s Wegovy launch and the company’s 2025 guidance of greater than $3 billion underscores the opportunity, according to Meachem. And Meachem also argues that Wall Street has not priced in the opportunity for Eli Lilly’s tirzepatide though his experts expect the latter’s weight loss effect to be competitive to Wegovy. 

Meachem’s higher price target is based on updated forecasts for tirzepatide in obesity.

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