BMO Capital Markets reaffirmed its 'outperform' rating on Eli Lilly (LLY). The firm set a $1,200 price target, suggesting a 12% upside from current levels.
BMO expressed confidence that Lilly will maintain global leadership in the weight-loss drug market. This outlook holds even as competitor Novo Nordisk introduces an oral treatment.
The positive outlook is supported by several key factors. Lilly anticipates the summer 2026 launch of its weight-loss pill, orforglipron, alongside expanding patient access to existing treatments. BMO also cited the company's pipeline potential, specifically noting a highly anticipated new drug for Alzheimer's disease, as a driver for future growth.