JPMorgan anticipates another robust quarterly performance from Eli Lilly when it reports earnings in August. The firm has increased its price target on the stock from $1,300 to $1,400, suggesting a potential 17% upside from Monday's closing price.

In a report issued Tuesday, analyst Chris Schott stated, "We expect a strong quarter driven by continued international ramp for Mounjaro and solid growth in the US obesity market. We forecast total sales of $20.7 billion (approximately $300 million above consensus) and EPS of $8.85 ($0.13 above consensus)."

Eli Lilly, the manufacturer of the blockbuster obesity drug Zepbound, remains Schott's top pick. The company's stock has risen 12% year-to-date.