Eli Lilly & Co. (LLY): Looking Ahead To Expedition - Jefferies
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Jefferies analyst, Jeffrey Holford, reiterated his Buy rating on shares of Eli Lilly (NYSE: LLY) but cut his price target to $100.00 (from $105.00) after Q3 missed expectations.
The analyst cut 2016E-2020E revenue estimates by 2%-3% after incremental pricing pressure on Humalog, competition and LOEs adversely pressured results. 2016 non-GAAP EPS of $3.56 is unchanged but 2017E-2020E non-GAAP EPS is reduced by 1%-5%.
The Buy thesis on LLY is unchanged because it is focused around its new product launch momentum combined with tremendous operating leverage potential. EXPEDITION-3 should be a stronger driver of near term sentiment as well.
Shares of Eli Lilly closed at $76.76 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Jefferies Raises Price Target on Zumiez, Inc. (ZUMZ) to $23 Following 3Q
- Jefferies Cuts Price Target on Workday (WDAY) to $71 Following 3Q
- Jefferies Raises Price Target on Ulta Salon (ULTA) to $270; Reiterates Hold
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change, Earnings
Related EntitiesJefferies & Co
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!