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THG Holdings PLCTHG
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Eli Lilly Fair Value Rises to US$1,325.39 as Analysts Back GLP-1 Growth
Eli Lilly's updated fair value estimate has shifted from US$1,297.31 to US$1,325.39, with revenue growth moving from 13.98% to 14.17%, net profit margin from 41.26% to 42.01%, and future P/E from 28.66x to 28.85x, while the discount rate held at 7.24%. The revision sits alongside analyst price targets that often exceed US$900, with a cluster between US$1,300 and US$1,600, as firms including Citi, BMO Capital, RBC Capital, UBS, Morgan Stanley, Bernstein, Truist, Cantor Fitzgerald, BofA, Leerink and Berenberg raised targets into a range stretching from around US$1,135 to US$1,600. Guggenheim lifted its target to US$1,284, incorporating updated prescription and pricing assumptions and the reinstatement of Zepbound on the CVS formulary, while HSBC kept a Reduce rating even after raising its target to US$940, citing elevated sector multiples. The U.S. FDA granted full approval for Eli Lilly's Inluriyo in combination with Verzenio for adults with ER+, HER2-, ESR1-mutated advanced or metastatic breast cancer after progression on endocrine therapy, based on Phase 3 EMBER-3 data showing the combination doubled median progression-free survival versus Inluriyo alone. Eli Lilly also plans to present data on Mounjaro, Zepbound, Foundayo, retatrutide and eloraTZP at the European Association for the Study of Diabetes 2026 meeting in Milan, and Berenberg upgraded the stock citing weight-loss drug growth prospects, a pipeline described through 2030, and around US$60b committed to more than 25 business development deals this year, including acquisitions in sleep and cancer.
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Ascendis Pharma Regains TransCon Metabolic Rights After Novo Nordisk Split
Ascendis Pharma has regained exclusive rights to TransCon technology-based products in metabolic and cardiovascular diseases after ending its collaboration with Novo Nordisk. The company plans to advance its own programs in obesity and type 2 diabetes using its TransCon platform, with management highlighting once-monthly TransCon Semaglutide as a planned program within its expanded metabolic disease pipeline. Control of once-monthly TransCon Semaglutide and other metabolic projects shifts Ascendis from a partner model with Novo Nordisk to running these programs itself, concentrating both the potential upside and the development and commercialization costs inside one balance sheet. The regained rights and the once-monthly TransCon Semaglutide plans are only one part of the Ascendis story, and the company's existing rare endocrine portfolio still centers on YORVIPATH, SKYTROFA, and TransCon CNP or YUVIWEL. Key proof points now sit in the clinic and on the cash line, including formal trial initiation for once-monthly TransCon Semaglutide in obesity and type 2 diabetes, plus any updated R&D and share repurchase commentary at events such as the September 15, 2026 Morgan Stanley conference.
Amgen Fair Value Target Rises to US$388.03 as Analysts Split on Pipeline Risks
Amgen's updated analyst model lifted its fair value price target to US$388.03 from a prior US$371.93, with the revenue growth assumption rising to 3.50% from 2.93%, the net profit margin assumption moving to 25.15% from 24.84%, the future P/E multiple changing to 25.1x from 24.6x, and the discount rate shifting to 7.96% from 7.70%. The revision reflects a split analyst view, with UBS, Argus, TD Cowen, Scotiabank and Oppenheimer raising their Amgen price targets into a US$420 to US$460 range on the strength of a strong product portfolio, Q2 beats and higher guidance. Wells Fargo and Piper Sandler lifted their targets to US$435, citing external survey work and prescription data they believe support higher long term sales potential for cholesterol and cardiovascular products such as Repatha and Lipfendra. On the bearish side, HSBC downgraded Amgen to Hold and cut its target to US$425 from US$445, saying the stock price now more closely matches its assessment of fair value with limited near term upside, while BMO Capital shifted to a neutral Market Perform stance even with a higher US$450 target, citing ongoing loss of exclusivity headwinds and a need for more clarity on the competitive profile and sales potential of MariTide.