It's Good to be Eli Lilly in 2022 Says Citi Analyst By Investing.com

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It's Good to be Eli Lilly in 2022 Says Citi Analyst

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It's Good to be Eli Lilly in 2022 Says Citi Analyst

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By Sam Boughedda

Eli Lilly & Co.'s (NYSE:LLY) price target was raised to $370 from $285, with its Buy rating maintained at Citi on Thursday.

An analyst stated in his research note that "it's good to be Lilly in 2022."

"We have increased our peak risk-adjusted tirzepatide forecasts (diabetes/obesity/NASH) to >$25bn (previously $15bn, consensus c.$16bn). Our ongoing feedback from physicians/payers continues to fuel our optimism for broader access, reimbursement and adoption given the previously unforeseen glucose and weight lowering properties (US physician/payer survey, Mar-22)," said the analyst.

The analyst told investors they would use any potential weakness on the back of forthcoming data from Eisai's lecanemab and/or Roche's gantenerumab as an attractive opportunity to add to positions.

In addition, Citi "continue[s] to attribute a c.65% probability that LLY's TRAILBLAZER-ALZ 2 meets its primary endpoint in mid-2022."

Despite a dip earlier in the session, Eli Lilly shares are up 0.85% at the time of writing.

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