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Eli Lilly’s Obesity Drug Momentum Spurs Truist to Raise Price Target to $1,182
Eli Lilly’s Obesity Drug Momentum Spurs Truist to Raise Price Target to $1,182
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BTCCSquare news:
Truist analyst Srikripa Devarakonda sees further upside for Eli Lilly (LLY) after a 22% November rally, boosting her price target 14% to $1,182. The revision follows a WHITE House deal expanding Medicare access to obesity treatments like Zepbound and Mounjaro.
Devarakonda now models peak incretin revenue at $101 billion, up from $85 billion, citing improved pricing power and Medicare coverage. Lilly’s pipeline—particularly orforglipron—could generate $41 billion globally versus prior $22 billion estimates.
The stock’s 67.5% surge since August reflects institutional confidence in Lilly’s dual diabetes/obesity franchise. ‘This isn’t just demand—it’s structural reimbursement change,’ notes one portfolio manager holding the shares.
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