Eli Lilly a new ‘top pick’ at Morgan Stanley following strong Q2 results
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Contributor since / Followers
Contributor since / Followers
3 months ago
mbbirdy
- Morgan Stanley has named Eli Lilly (NYSE:LLY) a top pick following quarterly results that beat on both lines and raising its 2024 revenue and EPS outlook.
- The firm, which rates the pharma at outperform, also boosted its price target to $1106 from $1083 (~31% upside based on Aug. 8 close).
- Analyst Terence Flynn says he sees upside to Morgan Stanley’s own near-term estimates on Mounjaro and Zepbound sales as supply woes have eased.
- “We believe LLY offers the most attractive opportunity in our coverage for upside to consensus estimates, despite the stock’s outperformance,” he wrote.
- Lilly shares are up ~5% in Friday afternoon trading.