01:00 PM EDT, 06/05/2024 (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 to $940 from $930, reflecting a 49.1x multiple on our 2025 EPS, above LLY's historical forward P/E average. We keep our 2024 EPS estimate at $14.05 and 2025's at $19.14. The recently shared data from the Phase 2 study of Tirzepatide to treat Mash, a serious fatty liver disease, showing efficiency in patients receiving different doses of the therapy vs. the placebo without worsening fibrosis, is positive and could support the potential for indication expansion, in our view. On a separate note, LLY announced the departure of its CFO, A. Ashkenazi, who held the role since 2021 and spent 23 years at LLY. Ashkenazi will join Alphabet as the new CFO in July 31, while LLY starts to look for a replacement. We are not concerned about the leadership change at this point, as Ashkenazi will hold the role until the end of July and LLY is preparing for a transition. We continue to view the FDA decision on Donanemab to treat early Alzheimer's disease, expected by the end of Q2, as the near-term key event.