Eli Lilly & Co. (LLY): Stock Remains Overvalued - BMO

BMO Capital analyst, Alex Arfaei, reiterated his Underperform rating on shares of Eli Lilly (NYSE: LLY) but believes that sentiment might be beginning to shift regarding one of the analyst's key concerns: the vulnerability of the insulin franchise.

The analyst stated "we doubt Lilly will get much credit for its new oncology strategy prior to data. We argue that LLY remains overvalued".

No change to the price target of $73.

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 $82.19 yesterday.

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