Eli Lilly Shares Jumped 2% in Morning Trading.
Eli Lilly price target raised at Morgan Stanley on robust product outlook.
Morgan Stanley is continuing its overweight rating on Morgan Stanley saying it has "the most robust new product cycle (and hence growth) outlook in pharma."
The firm also raised its price target to $364 from $265.
Analyst Terence Flynn said that the pharma giant could launch five new drugs over the next two years, including donanemab for Alzheimer's disease and tirzepatide for diabetes. He projected those two drugs alone could have revenue of more than $5B in 2030.
Flynn estimates that the new product launches could increase Lilly's (LLY) top line by 40% and expand operating margins to 41% from 32% (both 2025 vs. 2022).
He gives donanemab a 50% probability of success and projects 2030 sales of ~$3B.
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