Eli Lilly shares gained more than 3% on Friday on Wall Street, boosted by Bank of America, which raised its price target by citing good prospects for its anti-obesity drug tirzepatide.

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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