Leerink Swann Upgrades Eli Lilly (LLY) to Market Perform; Dividend Yield + Business/Pipeline Optionality
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Price: $750.77 -0.12%
Rating Summary:
25 Buy, 8 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 5 | Down: 5 | New: 40
Rating Summary:
25 Buy, 8 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 5 | Down: 5 | New: 40
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Leerink Swann upgraded Eli Lilly (NYSE: LLY) from Underperform to Market Perform with a price target range of $39-$40 (from $34-35).
Leerink analyst says, "We are upgrading LLY based on substantially improved conviction in the sustainability of its dividend (currently yielding 5.1%), building evidence of a recovery & likely acceleration in the diabetes franchise, a growing
animal health presence, strong & sustainable growth in Japan & emerging markets, and a Ph III pipeline poised to deliver data from >40 clinical trials, across 16 different indications, 11 different products (including the 2 basal insulins) & 10 NMEs by the end of 2014. Our recent mtgs with CFO Derica Rice reinforce our view that the dividend is not at risk due in part to the strength & relative sustainability of the company's "countercyclical growth drivers" (Japan, emerging markets, animal health) & a financial structure with few limitations on its ability to repatriate $5B to the U.S. annually from overseas subsidiaries."
For more ratings news on Eli Lilly click here and for the rating history of Eli Lilly click here.
Shares of Eli Lilly closed at $38.30 yesterday.
Leerink analyst says, "We are upgrading LLY based on substantially improved conviction in the sustainability of its dividend (currently yielding 5.1%), building evidence of a recovery & likely acceleration in the diabetes franchise, a growing
animal health presence, strong & sustainable growth in Japan & emerging markets, and a Ph III pipeline poised to deliver data from >40 clinical trials, across 16 different indications, 11 different products (including the 2 basal insulins) & 10 NMEs by the end of 2014. Our recent mtgs with CFO Derica Rice reinforce our view that the dividend is not at risk due in part to the strength & relative sustainability of the company's "countercyclical growth drivers" (Japan, emerging markets, animal health) & a financial structure with few limitations on its ability to repatriate $5B to the U.S. annually from overseas subsidiaries."
For more ratings news on Eli Lilly click here and for the rating history of Eli Lilly click here.
Shares of Eli Lilly closed at $38.30 yesterday.
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