Berenberg announced on Wednesday that it had raised its target price for Eli Lilly shares from $1,000 to $1,500, while maintaining its Buy recommendation.
In a research note, the analyst welcomes the "solid" second-quarter results published by the US pharmaceutical company, which came in above expectations, as well as the raising of its full-year targets on the back of the success of its diabetes and obesity drugs.
Against this backdrop, the research consultancy has revised upwards its sales and margin forecasts for the group, and raised its guidance accordingly.
Lilly thus remains its 'preferred' stock not only within the US pharmaceutical sector, but also with a view to playing the obesity theme.
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