Goldman Sachs upgraded Eli Lilly shares to buy from neutral, citing confidence in the company's pipeline even if its Alzheimer drug doesn't get approved.
"We believe LLY is entering a long lasting period of accelerating revenue and EPS growth driven by a diversified late stage pipeline propelling many years of margin expansion," analyst Jami Rubin wrote in a note to clients Tuesday.
"We view Solanezumab (Alzheimer's asset) as high risk, albeit a very valuable asset if it works."