Goldman Sachs Added Eli Lilly (LLY) to its Conviction Sell List
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Goldman Sachs added Eli Lilly & Co. (NYSE: LLY) to its Conviction Sell List, with a downside $30 price target. The firm said long-term estimate are at risk due to double patent cliff, thin pipeline, and the need to fund early state pipeline. The firm also said the short-term outlook is at risk due to the Effient launch curve, which they said will underwhelm. Lastly, the firm said LLY's premium multiple is at risk.
Eli Lilly and Company develops, manufactures, and sells pharmaceutical products worldwide.
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