The postelection drawdown in Eli Lilly may have been overblown as one close confidant to President-elect Donald Trump appears to support weight loss drugs, according to Bernstein. Breen has an outperform rating on Eli Lilly and price target of $1,100, which suggests upside of 38.2% from Wednesday's close. Eli Lilly is behind the Mounjaro drug for diabetes and Zepbound for weight loss, among others. LLY YTD mountain Eli Lilly, year to date Breen noted there is a potential trade-off on price as supply increases. Despite recent challenges, Eli Lilly shares are up more than 35% in 2024.

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Persons: Eli Lilly, Donald Trump, Bernstein, Robert F, Kennedy Jr, Courtney Breen, Breen, David Ricks, Kennedy, Elon Musk, Musk, Lilly Organizations: Trump, Department of Health, Human Services, Pfizer, Pharmaceutical Research, Manufacturers of America, Elon, Novo Nordisk Locations: Wednesday's