Markets

Eli Lilly’s Target, Estimates Boosted at Bank of America/Merrill Lynch (LLY)

Drug maker Eli Lilly & Co ( LLY ) on Monday caught some bullish commentary from analysts at Bank of America/Merrill Lynch.

The firm maintained its "Buy" rating on LLY and lifted its price target to $46, suggesting an 11% upside to the stock's Friday closing price of $41.28. Bank of America/Merrill Lynch also upped its earnings estimates for the company, citing some solid late-stage clinical assets.

Eli Lilly shares, which are mostly flat year-to-date, posted small losses in premarket trading Monday.

The Bottom Line

Shares of Eli Lilly ( LLY ) have a 4.75% dividend yield, based on Friday's closing stock price of $41.28. The stock has technical support in the $38-$39 price area. If the shares can firm up, we see overhead resistance around the $45 price level.

Eli Lilly & Co ( LLY ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Created by Dividend.com


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

LLY

Other Topics

Stocks