What Happened With Eli Lilly and Company Stock Today?
Portfolio Pulse from Ryan Gustafson
Eli Lilly and Company (LLY) shares traded higher on Monday following the company's better-than-expected Q3 earnings report. The company reported earnings of 10 cents per share, beating the analyst consensus estimate of losses of 15 cents, and sales of $9.50 billion, beating the estimate of $8.95 billion. However, the company reduced its full-year 2023 revenue guidance. Morgan Stanley analyst David Phung maintained Eli Lilly with an Overweight and raised the price target from $673 to $722.
November 06, 2023 | 9:20 pm
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Eli Lilly's stock traded higher following a strong Q3 earnings report. Despite a reduction in 2023 revenue guidance, the stock's outlook remains positive with Morgan Stanley maintaining an Overweight rating and raising the price target.
Eli Lilly's better-than-expected Q3 earnings have led to a positive market reaction, driving the stock price higher. Despite the company reducing its 2023 revenue guidance, the outlook remains positive as evidenced by Morgan Stanley's Overweight rating and increased price target.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100