Berenberg Upgrades Eli Lilly to Buy, Citing Potential for Exceeding 2026 Guidance
Berenberg has upgraded its rating for Eli Lilly (LLY) from Hold to Buy. The firm cited the company's strong position in the weight-loss drugs market as a key factor behind this decision and expects LLY to exceed its 2026 guidance. The upgrade is accompanied by an increased price target of $1,400 per share, up from $1,220. This represents approximately 23% upside based on the stock's closing price as of September 14. Berenberg highlighted Eli Lilly’s leadership in a rapidly growing therapeutic area and its potential for sustained performance. The firm is optimistic about LLY’s long-term prospects due to continued demand for weight-loss medications, which are expected to remain a significant revenue driver.
Tickers: $LLY