🔴 LLY is trading 3.3% down today as HSBC downgrades on lower obesity market outlook

LLY is trading at $956.50 (-3.3%) following a downgrade from HSBC, which lowered its rating from Hold to Reduce.

• HSBC slashed its price target from $1,070 to $850, citing a conservative obesity market outlook of $80-120B by 2032, well below the previous consensus of over $150B.
• The stock is facing significant company-specific pressure, decoupling from the broader market as the S&P 500 trades up 0.6%.