01:05 PM EDT, 05/28/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lift our target price to $930 from $906, reflecting a 48.6x multiple on our 2025 EPS, above LLY's historical forward P/E average, justified by LLY's strong sales and earnings growth outlook in the next years. We lift our 2024 EPS view to $14.05 from $13.54 and 2025's to $19.14 from $16.59 as we expect solid margin expansion. We updated our model and raised our revenue forecasts for 2024 and 2025 to $43.6B and $53.1B, respectively, pointing to 28% Y/Y and 22% Y/Y increases. We continue to see high top-line sales growth led by robust growth in Tirzepatide revenues (Mounjaro +Zepbound) both in the U.S. and internationally during 2024 and 2025, which we expect to be above $14B and $23B, respectively. We think the recently announced $9B manufacturing investment in Indiana, the largest in the firm's history, to expand the manufacturing capacity for the active pharmaceutical ingredients in Tirzepatide products, is a great strategic move to alleviate supply concerns and support the great market demand.