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Bank of America Reiterates Eli Lilly (LLY) Buy on GLP-1 Growth Momentum

Eli Lilly and Co. (NYSE:LLY) is one of the best ESG stocks to buy now according to hedge funds. On September 9, Bank of America’s Tim Anderson reiterated a Buy rating on Eli Lilly & Co. (NYSE:LLY) and a $900 price target. The analyst highlighted the company’s strong market position in the obesity drug market as a key driver of future growth.

Photo by Laurynas Me on Unsplash

Anderson made a case for Eli Lilly and Co.’s (NYSE:LLY) portfolio after the recent update from the Institute for Clinical and Economic Review. The institute now believes that GLP-1 therapies, including those developed by Eli Lilly, are cost-effective for treating obesity. This marks a notable change from earlier views and strengthens the case that these therapies deliver meaningful clinical and economic benefits.

By broadening its assessment to include obesity-related outcomes and quality-of-life improvements, the ICER report further supports the value proposition of Eli Lilly and Co.’s (NYSE:LLY) drugs.

Although reimbursement challenges persist, the ICER findings may help expand coverage and payer acceptance over time. Anderson added that Eli Lilly’s strong pipeline, above-peer revenue growth forecasts, and leadership in obesity treatments underpin his positive outlook and continue to justify the Buy rating.

Eli Lilly and Company (NYSE:LLY) is a global pharmaceutical company focused on the development, manufacture, and marketing of medicines for diabetes, oncology, immunology, and neuroscience.

While we acknowledge the potential of LLY to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than LLY and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT:  Best Stocks For Day Trading: 12 Stock Picks and 15 Best Multibagger Stocks to Invest in Right Now.

Disclosure: None. This article is originally published at Insider Monkey.

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When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

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Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

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  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

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