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Eli Lilly: share up as Berenberg raises TP

(CercleFinance.com) - Eli Lilly shares rose on the New York Stock Exchange on Wednesday, with analysts at Berenberg raising their target price for the stock.


Analysts welcomed the "solid" Q2 results published by the US pharmaceutical company, which exceeded expectations, as well as the raising of its full-year targets on the back of the success of its diabetes and obesity drugs.

Against this backdrop, the broker has raised its sales and margin forecasts for the group, and has raised its target price for the stock from $1,000 to $1,050, while maintaining its Buy recommendation.

Lilly thus remains its "preferred" stock - not only within the US pharmaceutical sector, but also with a view to playing the obesity theme.

At 9:45 a.m. (Wall Street time), the stock was up 0.4%, compared with a gain of 0.2% for the S&P 500 index.


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