Credit Suisse Initiates Coverage on Eli Lilly & Co. (LLY)
Equities researchers at Credit Suisse assumed coverage on shares of Eli Lilly & Co. (NYSE:LLY) in a research report issued on Tuesday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating on the stock.
Shares of Eli Lilly & Co. (NYSE:LLY) traded up 0.84% on Tuesday, hitting $48.05. The stock had a trading volume of 10,496,071 shares. Eli Lilly & Co. has a 52-week low of $44.88 and a 52-week high of $58.40. The stock’s 50-day moving average is $51.85 and its 200-day moving average is $53.29. The company has a market cap of $51.904 billion and a P/E ratio of 10.70.
Eli Lilly & Co. (NYSE:LLY) last announced its earnings results on Wednesday, July 24th. The company reported $1.16 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.01 by $0.15. The company had revenue of $5.93 billion for the quarter, compared to the consensus estimate of $5.82 billion. During the same quarter last year, the company posted $0.83 earnings per share. Eli Lilly & Co.’s revenue was up 5.9% compared to the same quarter last year. Analysts expect that Eli Lilly & Co. will post $4.14 EPS for the current fiscal year.
A number of other firms have also recently commented on LLY. Analysts at Argus cut their price target on shares of Eli Lilly & Co. from $63.00 to $56.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. Separately, analysts at UBS AG cut their price target on shares of Eli Lilly & Co. from $52.00 to $50.00 in a research note to investors on Friday. They now have a “neutral” rating on the stock. Finally, analysts at Leerink Swann raised their price target on shares of Eli Lilly & Co. from $61.00 to $62.00 in a research note to investors on Friday, September 27th. They now have an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. Eli Lilly & Co. presently has a consensus rating of “Hold” and a consensus target price of $56.13.
Eli Lilly and Company discovers, develops, manufactures, and sells products, in one business segment, pharmaceutical products.
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