Eli Lilly Wins Fresh Bullish Call From BMO

BMO Capital Markets is doubling down on Eli Lilly LLY, keeping its Buy rating on the stock and setting a price target of $840. The call comes as the drugmaker gears up to launch a new weight-loss pill that analysts say could reshape the obesity treatment market.

The pill, called Orforglipron, is expected to be filed for approval soon, with a launch planned for summer 2026. Unlike Lilly's popular injectables Mounjaro and Zepbound, this one is taken orally a shift Wall Street thinks could open the door to millions of new patients.

BMO isn't alone in its optimism. HSBC, Morgan Stanley and Truist have all reiterated bullish calls on Lilly in recent weeks, while Jefferies thinks Orforglipron's sales could eventually hit $25 billion a year. Most forecasts see at least $15.5 billion in annual revenue by 2032.

The upbeat analyst calls come even as Lilly's stock has slipped about 4% this year. For investors, that weakness could be short-term noise. Analysts say the company's science, pipeline and market position keep it at the front of the weight-loss drug race.