BofA Securities on Eli Lilly (LLY): 'a particularly good buying opportunity'

BofA Securities analyst Tim Anderson reiterated a Buy rating and $997.00 price target on Eli Lilly (NYSE: LLY)

The analyst comments "We think it offers a particularly good buying opportunity. This is predicated on LLY remaining one of two incumbent companies that should continue to dominate a very large category and are still only in the very early stages of rolling out their products both in the US and globally. It could be that analyst expectations have gotten ahead of themselves, but even if those were to be trimmed, obesity/diabetes is still a big category, and LLY should continue to put up growth not found elsewhere in large cap biopharma coverage, in our view. Coupled with continued innovation, both within the “diabesity” category and in other disease areas, we think LLY will still outperform peers given this strong, longer-term growth profile. We are reviewing our estimates and maintain our Buy rating and $997 PO."

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 $744.91 yesterday.

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