Eli Lilly (LLY) Down on Convction Sell, Merck (MRK) Up On Conviction Buy
Shares of Eli Lilly & Co. (NYSE: LLY) are 3% weaker today after Goldman Sachs added the stock to its dreaded Conviction Sell List earlier today. Shares of rival Merck & Co. Inc. (NYSE: MRK) is seeing the opposite reaction, up 2.4% after being added to the Conviction Buy List at Goldman.
On Eli Lilly, the firm cited concerns about upcoming patent cliff, its thin pipeline and premium valuation.
On Merck, the firm cited a discount valuation and the potential for cost-driven earnings acceleration.
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