Health Care

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We add Eli Lily and Company (LLY) to CFRA’s High-Quality Capital Appreciation Portfolio. LLY is one of the largest U.S. drug makers in terms of revenue and is a leading developer of drugs in a wide range of therapeutic areas such as endocrinology, which includes a diabetes drug portfolio that generates more than half of its total revenue. We are increasingly optimistic on LLY’s many ongoing efforts, including late-stage therapies such as donanemab (for Alzheimer’s disease), pirtobrutinib (for certain forms of leukemia and lymphoma), and tirzepatide (for sleep apnea and cardiology). Such innovation could complement LLY’s 10 key current drugs, which represent the majority of LLY’s total sales. LLY replaces CVS Health Corporation, which was downgraded to a Hold recommendation.

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We raise our target price by $56 to $885, reflecting 57.0x our 2025 EPS, justified by LLY’s robust revenue and earnings growth outlook. We lift our 2024 EPS estimate by $0.10 to $12.50 and our 2025 view by $0.06 to $15.53. Leaving behind a year of robust performance in 2023 with top-line revenue growth of 28% Y/Y, we think LLY will continue to outperform peers. We see superior growth prospects for Eli Lilly in the next two years in an environment where competitors will see slower growth and more limited cushion against key drugs’ loss of exclusivities. We updated our model and now expect 2024 revenue growth of 21% Y/Y and another 14% Y/Y in 2025, while we expect record EPS growth of 98% Y/Y and 24%

Eli Lilly and Co (NYSE:LLY) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/20/2024 7.73% Cantor Fitzgerald → $815 Reiterates Overweight → Overweight 02/16/2024 25.58% Morgan Stanley $805 → $950 Maintains Overweight 02/14/2024 7.73% Cantor Fitzgerald → $815 Reiterates Overweight → Overweight 02/07/2024 12.36% Truist Securities $650 → $850 Maintains Buy 02/07/2024 6.41% Morgan Stanley $763 → $805 Maintains Overweight 02/07/2024 7.07% Barclays $680 → $810 Maintains Overweight 02/07/2024 9.05% Wells Fargo $700 → $825 Maintains Overweight 02/07/2024 14.34% BMO Capital $710 → $865 Maintains Outperform 02/06/2024 9.05% Wells Fargo $700 → $825 Maintains Overweight 02/06/2024 7.73% Cantor Fitzgerald $630 → $815 Maintains Overweight 02/05/2024 -16.72% Cantor Fitzgerald → $630 Reiterates Overweight → Overweight 02/01/2024 -16.72% Cantor Fitzgerald → $630 Reiterates Overweight → Overweight 01/24/2024 -7.47% Wells Fargo $650 → $700 Maintains Overweight 01/23/2024 -16.72% Cantor Fitzgerald → $630 Reiterates Overweight →

Eli Lilly and Co (NYSE:LLY) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/16/2024 21.39% Morgan Stanley $805 → $950 Maintains Overweight 02/14/2024 4.14% Cantor Fitzgerald → $815 Reiterates Overweight → Overweight 02/07/2024 8.61% Truist Securities $650 → $850 Maintains Buy 02/07/2024 2.86% Morgan Stanley $763 → $805 Maintains Overweight 02/07/2024 3.5% Barclays $680 → $810 Maintains Overweight 02/07/2024 5.42% Wells Fargo $700 → $825 Maintains Overweight 02/07/2024 10.53% BMO Capital $710 → $865 Maintains Outperform 02/06/2024 5.42% Wells Fargo $700 → $825 Maintains Overweight 02/06/2024 4.14% Cantor Fitzgerald $630 → $815 Maintains Overweight 02/05/2024 -19.5% Cantor Fitzgerald → $630 Reiterates Overweight → Overweight 02/01/2024 -19.5% Cantor Fitzgerald → $630 Reiterates Overweight → Overweight 01/24/2024 -10.56% Wells Fargo $650 → $700 Maintains Overweight 01/23/2024 -19.5% Cantor Fitzgerald → $630 Reiterates Overweight → Overweight 01/23/2024 -13.11% Barclays $630 → $680 Maintains Overweight 12/21/2023