Eli Lilly Poised for Strong Quarterly Results as JPMorgan Lifts Price Target
Deep News
Jul 07
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.
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