Eli Lilly And Co (NYSE:LLY) shares are trading higher Tuesday following positive analyst coverage from BMO Capital.
BMO Capital analyst Evan David Seigerman maintained Eli Lilly with an Outperform rating and raised the price target from $369 to $396 on the back of higher expectations for Mounjaro following mid-2023 approval and strength of recent data.
Seigerman believes Wall Street estimates are too conservative. The BMO Capital analyst sees earnings of $8.03 per share in 2022 growing to $10.55 per share in 2023 and greater than $27 per share by 2030.
BMO set an upside scenario price target of $440 and a downside scenario price target of $250.
Eli Lilly is a drug firm with a focus on neuroscience, endocrinology, cancer and immunology.
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LLY Price Action: Eli Lilly has a 52-week high of $335.33 and a 52-week low of $231.87.
The stock was up 3.46% at $311.75 at time of publication.
Photo: Konstantin Kolosov from Pixabay.
