Eli Lilly: Berenberg raises target price
(CercleFinance.com) - Berenberg said on Wednesday that it had raised its target price for Eli Lilly shares from $1,000 to $1,500 (cp: $932, +2.
6%), while maintaining its Buy recommendation on them.
The analyst welcomes the US pharmaceutical company's "solid" Q2 results, which exceeded expectations, as well as the raising of its FY 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, raising its guidance accordingly.
Lilly thus remains its 'preferred' stock - not only within the US pharmaceutical sector - but also with a view to playing the obesity theme.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
6%), while maintaining its Buy recommendation on them.
The analyst welcomes the US pharmaceutical company's "solid" Q2 results, which exceeded expectations, as well as the raising of its FY 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, raising its guidance accordingly.
Lilly thus remains its 'preferred' stock - not only within the US pharmaceutical sector - but also with a view to playing the obesity theme.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.