Jefferies Analysis Shows Continued FX Benefit for Eli Lilly & Co. (LLY) - Reiterates Buy
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Rating Summary:
25 Buy, 8 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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Jefferies reiterated a Buy rating and $125.00 price target on Eli Lilly (NYSE: LLY) as commentators recently stoked concerns around 2016 guidance. An analysis by Jefferies shows some continued FX benefit on the gross margin into 2016, as well as some easy comps in R&D that should allow for guidance to be at least in line with consensus EPS of $3.67.
Analyst Jeffrey Holford Commented, "Commentators have recently stoked concerns around 2016 guidance. Our analysis shows some continued FX benefit on the gross margin into 2016 as well as some easy comps in R&D that should allow for guidance to be at least in line with consensus EPS of $3.67 (JEF $3.71). LLY is one of our Top Picks for 2016 and we expect the stock to become very crowded ahead of the sola read out in Q4'16, which looks increasingly likely to work."
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 $84.26 yesterday.
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