Deutsche Bank upgrades Eli Lilly stock to buy, citing strong earnings and growth forecast

From CNBC: 2024-08-12 11:43:16

On Monday, U.S. stocks were mixed as Wall Street prepared for major inflation data later in the week. The S&P 500 and Nasdaq Composite were up, while the Dow Jones Industrial Average was slightly lower. The CNBC Investing Club bought more Amazon shares, seeing potential for growth in Amazon Web Services despite recent declines.

Deutsche Bank upgraded Eli Lilly to a buy rating after a strong quarterly earnings report, citing the company’s long-term revenue growth forecast and competitive advantage in the weight-loss drug market. The firm also raised Lilly’s price target to $1,025 per share, presenting a 15% upside from Friday’s close. CNBC Investing Club holds long positions in ANZ and LLY.

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Read more at CNBC:: Deutsche Bank says Eli Lilly stock is a buy, in line with our rating