Analysts at Wells Fargo have named Eli Lilly as a top pick within the biotechnology sector, emphasizing the company’s improved supply and positive outlook on key drug trials. Despite a significant surge in stock price in the current year, Wells Fargo believes that Eli Lilly still has substantial growth potential ahead. With an overweight rating and a price target of $1,000 per share, Wells Fargo’s forecast suggests more than 8% upside from the previous close of $921.81. Analyst Mohit Bansal highlighted key catalysts such as the Surpass-CVOT trial in 2025 and Orforglipron/Retatrutide pivotal readouts in 2025/26, expressing confidence in the company’s competitive edge due to manufacturing capabilities and data superiority. Eli Lilly’s stock has already risen by over 58% in 2024, reflecting investor optimism.
In a positive outlook for the chip maker sector, Edward Jones has initiated coverage of AMD with a buy rating, foreseeing above-average growth potential. Analyst Logan Purk emphasized the continuous demand for data centers as a driving force behind AMD’s growth trajectory, with no signs of slowing down. The recent acquisition of semiconductor firm Xilinx is expected to expand AMD’s range of chip products and provide access to new markets. Purk also noted the potential for AI-enabled PCs to stimulate a longer upgrade cycle in the PC market, contributing to higher growth rates. Despite a moderate uptick of over 5% in stock value in 2024, AMD is seen as having significant room for expansion with the integration of Xilinx products into its portfolio.
Overall, analysts’ recommendations for Eli Lilly and AMD highlight favorable prospects for investors looking to capitalize on growth opportunities in the pharmaceutical and chip maker industries. With key drug trials and product expansions on the horizon, both companies are positioned for continued success in the market. Investors may find value in considering these top picks for their portfolios as they navigate the dynamic landscape of the stock market.