03:25 PM EDT, 06/11/2024 (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 $990 from $940, reflecting a 51.7x multiple on our 2025 EPS estimate, above LLY's historical forward P/E average. We maintain our 2024 EPS estimate at $14.05 and 2025's at $19.14. We view the FDA Advisory Committee panel's recent unanimous vote (11-0) in favor of Eli Lilly's ( LLY ) drug, Donanemab, to treat patients with early Azheimer's disease, as positive, despite some members signaling the potential risks of the therapy during the meeting that led to the decision. In our view, this decision is supportive and paves the way for a likely FDA approval soon. We continue to remain bullish on LLY and think the company sets itself apart versus its peers with its focus on innovation and successful R&D efforts.