Jefferies Starts Eli Lilly (LLY) at Hold, 'Priced to Perfection'

Jefferies analyst Akash Tewari initiates coverage on Eli Lilly (NYSE: LLY) with a Hold rating and a price target of $290.00.

The analyst comments "LLY has outperformed the DRG - but at current levels looks “priced to perfection” as shares bake in success above sell-side #'s. While we're bullish on Mounjaro ($40B peak sales) esp T2DM where RR could be unprecedented, for LLY to hit $400/$500, GLP-1 peak sales would need to be $65B & $90B, respectively. We’re also cautious on Alzh franchise ($4.3B vs $8.2B) + LT margins (45% vs 50%) + IRA impact which needs clarity on before we can see upside. Hold, PT $290."

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 $318.43 yesterday.

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