Eli Lilly: stock rises, BofA targets $1,000
According to the research firm, annual sales of tirzepatide could exceed $60 billion by 2030, four times the figure expected this year.
This optimism has led it to raise its price target from $800 to $1,000, while renewing its buy recommendation on the stock.
Tirzepatide is an agonist of the glucose-dependent insulinotropic peptide (GIP) receptor, a hormone that reduces food intake and increases energy expenditure, leading to weight reduction.
Beyond the quality of the Group's weight-loss franchise, BofA highlights its promising prospects in neuroscience, oncology and inflammation-immunology (I&I), the latter division being set to generate, according to the analyst, average annual growth of 16% over the next five years.
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