Eli Lilly price target raised to $132 from $124 at BMO Capital

BMO Capital analyst Alex Arfaei raised his price target on Eli Lilly to $132 from $124 and kept his Outperform rating, saying that unlike its peers, the company offers “multiple growth drivers and several pipeline assets that could provide meaningful upside.” The analyst anticipates Eli Lilly’s annualized revenue and earnings growth of 5% and 16% with “significant upside potential” coming from Tanezumab and Alzheimer’s program. Araeil further believes that the company’s growth, strong R&D and commercial execution prospects “support its premium valuation.
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