Eli Lilly Price Target Lifted to $1,251 at BofA on Weight-Loss Drug Optimism

BofA Securities raised its price target for Eli Lilly (LLY) to $1,251 from $1,133.

The bank maintained its "Buy" rating on the stock.

A positive outlook for Eli Lilly's diabetes and obesity GLP-1 drugs drives the revision.

BofA analysts project U.S. GLP-1 market sales will approximately double by 2033.

Eli Lilly is positioned as a dominant player in this market.

Strong key product growth and a promising pipeline support this outlook to extend long-term revenue.