First Global Upgrades Eli Lilly (LLY) to Moderate Outperform; Raising Estimates
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Price: $1,139.50 -1.85%
Rating Summary:
30 Buy, 5 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 5 | Down: 11 | New: 27
Rating Summary:
30 Buy, 5 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 5 | Down: 11 | New: 27
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First Global upgraded Eli Lilly (NYSE: LLY) from ST Market Perform to Moderate Outperform.
First Global analyst said, "LLY delivered an overall decent performance in Q3 CY11, by reporting a diluted adjusted EPS of $1.13, which was 3 cents ahead of our estimate and in line with the consensus expectation, driven by a lower than expected tax rate and a moderately higher than expected topline for the quarter...Taking into account the likely patent expiry of LLY’s key brands, such as Zyprexa, from October 2011 onwards, we estimate the EPS to decline 8% in CY11. However, for CY12, we have raised our EPS estimate from the earlier $3.59 to $3.64, though we still continue to expect a decline of 16% in the EPS for the full year."
"The stock currently trades at 10.4x our CY12E earnings, which is at a discount to most of its peers in the sector."
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 $37.87 yesterday.
First Global analyst said, "LLY delivered an overall decent performance in Q3 CY11, by reporting a diluted adjusted EPS of $1.13, which was 3 cents ahead of our estimate and in line with the consensus expectation, driven by a lower than expected tax rate and a moderately higher than expected topline for the quarter...Taking into account the likely patent expiry of LLY’s key brands, such as Zyprexa, from October 2011 onwards, we estimate the EPS to decline 8% in CY11. However, for CY12, we have raised our EPS estimate from the earlier $3.59 to $3.64, though we still continue to expect a decline of 16% in the EPS for the full year."
"The stock currently trades at 10.4x our CY12E earnings, which is at a discount to most of its peers in the sector."
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 $37.87 yesterday.
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