Eli Lilly and Vir Biotechnology Lead Wave of U.S. Analyst Upgrades

Brokerage houses issued a flurry of rating and price-target changes on 27 Aug. HSBC upgraded Eli Lilly to Hold from Reduce and raised its 12-month target to $700, saying the pharmaceutical company’s obesity franchise continues to outpace bearish expectations. Bank of America shifted Vir Biotechnology to Buy, citing the commercial potential of its hepatitis delta virus program. JPMorgan moved Krispy Kreme to Underweight, flagging tougher margins in the doughnut chain’s expansion plan. Cantor Fitzgerald started coverage of AI-focused cloud provider CoreWeave with a bullish stance, pointing to demand from large-language-model training customers. Analysts also launched or resumed coverage of Legend Biotech, Hagerty and Mach Natural Resources with favorable outlooks. Across real-estate and consumer staples, Wells Fargo trimmed price targets for Essex Property Trust and Equity Residential while raising figures for CareTrust REIT and Host Hotels. UBS, Piper Sandler and other firms adjusted views on companies ranging from Keurig Dr Pepper to GlobalFoundries, underscoring continued sector rotation ahead of the autumn earnings season.