Why Eli Lilly and Company Shares Topped Daban Today

On the day of the Chinese New Year, investorsCome on.firms(NYSE: LLY)The company's stock is getting a lot of interest. As a result of the analysts' recommendation for a promotion, the company's stock price has risen nearly 2%, which is much higher than where it has been.Standard & Poor's 500The slight increase in the index (0.1%).

Eli Lilly receives rating boost from Europe

Lilly has been upgraded by Hans Engel, a forecaster at Erste Bank in Austria. Engel changed his rating on Lilly from Hold to Buy before the opening bell. His price target was not immediately announced.

The analyst believes that the U.S. pharmaceutical giant will manage to increase its revenue at a high double-digit growth rate in 2024, with meaningful revenue growth next year as well. Even better, he predicts that operating income and net income will grow even faster than revenue.

Engel took the trouble to mention Zepbound, the company's diabetes treatment drug Mounjaro, which is approved specifically for weight loss. It's a very promising area of medicine today, especially since it's far easier to eat pills or get injections than to adhere to a regular exercise and diet.

The Great Potential Benefits of Weight Loss

In the field of weight loss, the parts of mass are located in the DanishNovo Nordiskfirms(Novo) Nordisk (NYSE: NVO).The company continues to dominate the market with its drug product Wegovy. But Eli Lilly is bigger and better capitalized, so it's sure to be a hot competitor in the space. Engel's new take on the company's stock resonated with investors on Wednesday, as it was entirely credible.

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Eric Volkman does not own any of the aforementioned stocks.The Motley Fool recommends Novo Nordisk.The Motley Fool has a disclosure policy.

Why is Lilly's stock falling today?