Eli Lilly & Co. (LLY): Looking Ahead To Expedition - Jefferies

October 27, 2016 9:31 AM EDT
Get Alerts LLY Hot Sheet
Price: $76.81 -0.04%

Rating Summary:
    20 Buy, 5 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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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.

For an analyst ratings summary and ratings history on Eli Lilly click here. For more ratings news on Eli Lilly click here.

Shares of Eli Lilly closed at $76.76 yesterday.

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