Berenberg analyst Kerry Holford lowered the firm’s price target on Eli Lilly (LLY) to $970 from $1,050 and keeps a Buy rating on the shares. The company provided a “robust defense” of its Q4 miss and provided some reasons to be optimistic about 2025, the analyst tells investors in a research note. However, Lilly’s update, in addition to Novo Nordisk’s disappointing CagriSema result, “have shaken investor confidence in the obesity market opportunity,” contends the firm.
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