Goldman Sachs Upgrades Eli Lilly (LLY) to Neutral on New "Hope Trade"

October 9, 2012 7:01 AM EDT
Get Alerts LLY Hot Sheet
Price: $83.88 -1.01%

Rating Summary:
    16 Buy, 8 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 11 | Down: 14 | New: 25
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Goldman Sachs upgraded Eli Lilly (NYSE: LLY) from Sell to Neutral with a price target of $54.00 (from $42.00) saying the Sola data supports optionality trade.

New solanezumab data provides a backbone for the recent "hope trade," the firm notes.

"Our skepticism was proven wrong as the data presented at ANA today demonstrates that the beta amyloid thesis is alive and well and that sola could conceivably reach the market in 3-4 years," the analyst said.

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 $50.78 yesterday.

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