Barclays initiated coverage on Eli Lilly (LLY) with an Overweight rating and a $1,350 price target, reflecting continued bullish sentiment following several recent analyst upgrades.
- The new valuation follows a series of target hikes, including Deutsche Bank raising its outlook to $1,285 earlier this month.
- LLY shares are currently trading at $1,011.94 (down 1.10%), lagging behind gains in the S&P 500 and Nasdaq.
- The stock's intraday movement is attributed to market-wide sector rotation and broader economic data rather than any negative company-specific developments.