Eli Lilly Analyst Flags Overhyped Obesity Drug Expectations

Analyst Rajesh Kumar downgraded the U.S. drugmaker from Hold to Reduce, while cutting the price forecast from $1070 to $850.According to Bloomberg, the downgrade (the stock’s lowest on Wall Street) comes after a bit of back and forth.HSBC downgraded Eli Lilly’s stock to a sell-equivalent last April, citing excessive optimism and unattractive risk-reward. Four months later, they upgraded it to hold, noting potential upside if the obesity market maintains price discipline. However, they have now reassessed, s ...