Eli Lilly (LLY) PT Raised to $320 at BMO Capital on Longer-Term Margin Expansion

BMO Capital analyst Evan David Seigerman raised the price target on Eli Lilly (NYSE: LLY) to $320.00 (from $311.00) while maintaining an Outperform rating on higher margin optimism pos the Analyst Dal.

The analyst commented, "As Investor Day comes to an end, we are impressed by the longer-term margin leverage of the business and deep R&D pipeline. We have updated our model as per guidance from Lilly and now find ourselves at the top-end of expectations. We have kept our Gross Margin at 80% but increased SG&A costs, as per comments. Our margins now approach 40% at the end of the decade; this increases out target to $320/share."

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