Eli Lilly And Co (NYSE: LLY) is trading higher Wednesday after Citigroup analyst Andrew Baum upgraded the stock from a Neutral rating to a Buy rating and raised the price target from $210 to $265.
Baum cited valuation as a reason for the upgrade following a recent 15% decline in Eli Lilly shares.
The Citigroup analyst remains optimistic on the pending outcome of the company’s TRAILBLAZER-ALZ2 data set, which is expected in the first quarter of 2023.
Eli Lilly is a drug firm with a focus on neuroscience, endocrinology, oncology and immunology. The company’s key products include Alimta and Verzenio for cancer; Jardiance, Trulicity, Humalog and Humulin for diabetes; and Taltz and Olumiant for immunology.
LLY Price Action: Eli Lilly has traded as high as $275.87 and as low as $129.21 over a 52-week period.
The stock was up 4.14% at $230.78 at time of publication.
Photo: Paul Sableman from Flickr.
Latest Ratings for LLY
|
Sep 2021 |
Citigroup |
Upgrades |
Neutral |
Buy |
|
Aug 2021 |
Cowen & Co. |
Maintains |
Outperform |
|
|
Aug 2021 |
Morgan Stanley |
Maintains |
Overweight |
View More Analyst Ratings for LLY
View the Latest Analyst Ratings
See more from Benzinga
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
