Eli Lilly: Wells Fargo optimistic on stock

(CercleFinance.com) - Eli Lilly's appeal as a defensive healthcare stock with little sensitivity to the SVB crisis grew on Monday in response to a positive recommendation from Wells Fargo, which boosted the stock price.


The broker this morning rallied the buyers' camp by upgrading the stock to "overweight", with a price target raised from $360 to $375, following the recent bout of weakness in the share price.

In a note sent to its clients, the analyst believes that the pharmaceutical group's fundamentals have not changed, although stresses that at current prices its risk/reward profile is skewed upwards because of the pleasant surprises likely to surround its Alzheimer's drug project.


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