Analyst David Risinger from Leerink Partners maintained a Buy rating on Eli Lilly & Co (LLY – Research Report) and keeping the price target at $989.00.
David Risinger has given his Buy rating due to a combination of factors that reflect both the current financial adjustments and future growth prospects of Eli Lilly & Co. Despite a significant IPR&D charge impacting the first quarter earnings per share, the overall long-term earnings growth estimate remains robust at 21%. This indicates confidence in the company’s ability to recover and grow beyond the immediate financial adjustments.
Furthermore, while there is a slight underperformance in projected sales for certain products like tirzepatide, the overall outlook remains positive. The company’s management has provided guidance that suggests a strong earnings range for the year, even after accounting for the IPR&D charge. This combination of strategic financial management and promising growth potential supports the Buy rating for Eli Lilly & Co.
Risinger covers the Healthcare sector, focusing on stocks such as Eli Lilly & Co, Sanofi, and Vertex Pharmaceuticals. According to TipRanks, Risinger has an average return of 7.5% and a 52.54% success rate on recommended stocks.
In another report released yesterday, Bernstein also reiterated a Buy rating on the stock with a $1,100.00 price target.