Eli Lilly and Lam Research see positive analyst updates

Eli Lilly shares saw positive movement following news that its weight-loss medication, Zepbound, is scheduled to return to the CVS drug formulary on October 1. This move is expected to increase accessibility for insured patients and potentially drive higher prescription volumes. Consequently, Guggenheim analyst Seamus Fernandez raised the price target for Eli Lilly from $1,273 to $1,284, maintaining a “buy” rating based on improved sales perspectives and prescription trends.

In the semiconductor sector, Erste Group Bank has increased its FY2028 earnings estimates for Lam Research. Analyst S. Lingnau now projects earnings of $11.68 per share, up from a previous forecast of $11.43. This follows a strong quarterly report from Lam Research, which exceeded consensus estimates with $1.82 earnings per share and $6.72 billion in revenue.