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Update: Truist Securities Raises Price Target on Eli Lilly to $1,370 From $1,281, Keeps Buy Rating

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(Updates to include Truist Securities commentary).

Truist Securities raised its price target Eli Lilly (LLY) to $1,370 from $1,281, expecting a potential Q2 beat-and-raise.

The pharmaceutical company has strong U.S. script growth for Zepbound and Mounjaro, offset by slower-than-expected Foundayo growth, while maintaining high conviction in the company's incretin portfolio, analysts led by Srikripa Devarakonda wrote in a Wednesday note.

Although current growth stems from Mounjaro and Zepbound, there is meaningful upside from Foundayo, particularly in the international market, and from retatrutide as the company expands its patient base, the analysts mentioned.

Eli Lilly has an average rating of overweight and mean price target of $1,283.12, according to analysts polled by FactSet.

(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

Price: $1228.16, Change: $-7.40, Percent Change: -0.60%

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