"Expect LLY Shares to Trade Higher" on tirzepatide and Q1 Results - Mizuho Securities Reiterates Buy Rating, $315 Price Target on Eli Lilly (LLY)

Mizuho Securities analyst Vamil Divan reiterated a Buy rating and $315.00 price target on Eli Lilly (NYSE: LLY), following the company's Q1 report.

The analyst comments: "Eli Lilly reported 1Q22 results sales of $7.81Bn that were above Mizuho estimates (vs. $7.72Bn) and more meaningfully above Consensus ($7.48Bn), while non-GAAP EPS of $2.62 came in close to us ($2.66) and well above Consensus ($2.29). Higher sales of their COVID-19 antibodies drove the beat, while most of their other key products came in close or slightly below expectations. However, the quarterly results will likely be overshadowed by the impressive topline SURMOUNT-1 obesity data for tirzepatide, which we believe came in ahead of even recently elevated expectations. We await the conference call for more details, but expect LLY shares to trade higher on the back of the tirzepatide results. We reiterate our Buy rating."

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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