There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Eli Lilly & Co (LLY) and Globus Medical (GMED) with bullish sentiments.
Eli Lilly & Co (LLY)
In a report released today, Louise Chen from Cantor Fitzgerald maintained a Buy rating on Eli Lilly & Co, with a price target of $128. The company’s shares opened today at $121.21, close to its 52-week high of $121.84.
“The growth prospects for LLY’s key drugs — Verzenio — as well as its pipeline assets, especially in pain, are underappreciated, in our view. Valuation Summary We use a blend of DCF and EV/EBITDA analysis to arrive at our 12-month PT of $128. The Disclosure Section may be found on pages 3 – 4.Valuation We use a blend of DCF and EV/EBITDA analysis to arrive at our 12-month PT of $128. Risks Greater-than-expected brand and/or generic competition for Lilly’s key drugs/products.”
According to TipRanks.com, Chen is a 4-star analyst with an average return of 7.0% and a 38.1% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Amneal Pharmaceuticals Inc, and Aridis Pharmaceuticals Inc.
Currently, the analyst consensus on Eli Lilly & Co is a Moderate Buy with an average price target of $124.40, representing a 2.6% upside. In a report issued on January 23, UBS also initiated coverage with a Buy rating on the stock with a $131 price target.
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Globus Medical (GMED)
Cantor Fitzgerald analyst Craig Bijou reiterated a Buy rating on Globus Medical today and set a price target of $60. The company’s shares opened today at $43.78.
“We reiterate our Overweight rating on GMED with a 12-month price target of $60. We think GMED has several top-line growth drivers, including a US core market rebound, early success of emerging technologies and traction of the acquired ATEC international platform. GMED’s best-in-class profitability allows the company to invest organically or inorganically to drive top-line growth and to react to the evolving trends of the spine market. These should bring the company back to the beat-and-raise philosophy of a couple of years ago and help to push the valuation higher.”
According to TipRanks.com, Bijou is a 2-star analyst with an average return of 0.9% and a 51.3% success rate. Bijou covers the Healthcare sector, focusing on stocks such as Ra Medical Systems Inc, Zimmer Biomet Holdings, and Integra Lifesciences.
Currently, the analyst consensus on Globus Medical is a Moderate Buy with an average price target of $59.
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