Eli Lilly Stock (LLY): $305 Price Target From Berenberg

By Amit Chowdhry ● Dec 26, 2021
  • The shares of Eli Lilly And Co (NYSE: LLY) have received a price target of $305 from Berenberg. These are the details.

The shares of Eli Lilly And Co (NYSE: LLY) have received a price target of $305 from Berenberg. And Berenberg analyst Kerry Holford increased the price target from $270 while maintaining a “Buy” rating on the shares. 

Holford had increased the earnings forecast and net present value of the company following an impressive pipeline review, a positive mid-term outlook, and higher-than-expected 2022 guidance.

A couple of weeks ago, the company had updated a few elements of its 2021 financial guidance on both a reported and non-GAAP basis. The earnings per share for 2021 are now expected to be in the range of $6.18 to $6.23 on a reported basis and $8.15 to $8.20 on a non-GAAP basis.

And revenue for 2021 is now expected to be in the range of $28 billion to $28.3 billion, reflecting additional revenue from COVID-19 antibodies associated with the recent purchase agreement with the U.S. Government and the channel impact of the updated 2022 NRDL formulary in China. The estimated revenue from COVID-19 antibodies is now expected to be approximately $2.1 billion.

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