Is Eli Lilly Stock Going to $900? 1 Wall Street Analyst Thinks So.

Rather counterintuitively, following some promising news about a pipeline drug, one analyst tracking Eli Lilly (NYSE: LLY) stock cut his price target on the pharmaceutical giant. Even though that reduction was substantial, the pundit still sees value in the stock. Read on for more about this intriguing dynamic.On Thursday morning, BMO Capital's Evan David Seigerman made his move on Eli Lilly. He knocked $110 per share off his price target for a new fair-value assessment of $900 per share, while maintaining an outperform (which means buy) recommendation on the shares. While Seigerman waxed bullish about the company's hottest product at the moment (obesity drug Zepbound), he expressed concerns about the broader macroeconomic environment. According to reports, he feels economic pressures are affecting the entire healthcare sector, and as a standard bearer for American pharmaceuticals, Eli Lilly is vulnerable to them.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool