Eli Lilly and Company (NYSE:LLY) is among the 15 Best Big Name Stocks to Buy. On April 21, Barclays analyst Emily Field reiterated an Overweight rating on the stock with a price target of $1,350.
This is a reaffirmation of the firm’s initiation of coverage on the pharmaceutical company in February, when it noted Eli Lilly’s strong market share in obesity drugs and added that the stock was worthy of a premium valuation.
The recent update follows Eli Lilly and Company’s announcement on April 20 of a definitive agreement to acquire clinical-stage biotechnology firm Kelonia Therapeutics for up to $7 billion. The takeover marks a significant move in the drug-maker’s push to strengthen its oncology pipeline.
In other news, Scotiabank analyst Louise Chen also reiterated an Outperform rating on the company’s shares with a price target of $1,300 following the acquisition report.
As of the close of business on April 24, the stock is a Strong Buy with an average share price upside potential of 42%.
Eli Lilly and Company discovers, develops, and markets pharmaceutical products. The company has been pioneering life-changing discoveries for the last 150 years.
READ NEXT: 10 Best Military Drone Stocks to Buy Right Now and 7 Best Mid-Cap Defense Stocks to Invest In.
