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.
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