Bank of America has reiterated a Buy rating on Eli Lilly & Co. (NYSE:LLY) and raised their 12-month price target on the stock to $500.00. This follows a proprietary consumer analysis conducted to examine the escalating hype surrounding new obesity medications. The study found that >55% heard about these therapeutics on some form of social media, suggesting the need for targeted advertising. BofA analysts increased revenue forecasts for Mounjaro in Type 2 diabetes and tirzepatide in obesity by an average 19% and 40% respectively for ’23-’30. Shares of LLY are up 0.51% in mid-day trading on Wednesday.
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