BMO Capital Reiterates Outperform Rating, $330 Price Target on Eli Lilly (LLY) on Earnings, Highlights "Strong Obesity Data"

BMO Capital analyst Evan David Seigerman reiterated an Outperform rating and $330.00 price target on Eli Lilly (NYSE: LLY), following the company's Q1 report.

The analyst comments: "Strong obesity data, with good enough financials. Revenues were at $7.8B vs $7.29B consensus (+7%), non-GAAP EPS was $2.62 vs. $2.29 consensus (+14%). However, there were some product line misses across the board and lower-than-expected gross margin (24% vs. 23%). We're encouraged by the obesity data where we saw a 17.8% (pbo adjusted weight loss) at the highest dose (vs. 12.4% for Wegovy) and an acceptable discontinuation rate of 6.2%. Reiterate Outperform."

For an analyst ratings summary and ratings history on Eli Lilly click here. For more ratings news on Eli Lilly click here.

Shares of Eli Lilly closed at $285.09 yesterday.

By Vlad Schepkov

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