JPMorgan analyst Chris Schott raised his price target for Eli Lilly to $123 from $117 following yesterday’s diabetes Phase 2 data. The data surpassed street expectations, suggesting a potential best-in-class profile for GIP/GLP-1, Schott tells investors in a research note. If Lilly can replicate these efficacy results in {hase 3 and improve high dose tolerability, it has a multi-billion dollar product opportunity with GIP/GLP-1, the analyst contends. He continues to see an attractive setup for the stock and keeps an Overweight rating on Eli Lilly.
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