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BofA ups target price on on Eli Lilly, stock jumps
Summary
Broker BofA increased its price target on Eli Lilly and Company (NYSE: LLY), a pharmaceutical firm with its key areas of focus being neuroscience, cancer, and immunology. Eli Lilly’s market cap stood at over US$500 billion on Friday
LLY currently has a mean recommendation rating of 1.9 on five. Here, one indicates a ‘strong buy’ rating while five stands for a ‘strong sell' rating. Meanwhile, the consensus mean price target on LLY stands at US$584.9, an upside potential of over 3% over its closing price on Friday.
The price target upgrade led to LLY’s stock price rising by 2.3%. LLY closed at US$565.22 on October 6, 2023. At Friday’s close, LLY rose 4.38% intraday and by 54.5% on a YTD basis.
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