Deutsche Bank Sees No Catalyst At Eli Lilly Investor Meeting

Deutsche Bank has a Hold rating and a $38.50 price target on shares of Eli Lilly LLY. In a note to clients, Deutsche Bank writes, "LLY will host its annual investor meeting on June 30th. In anticipation, this report provides an overview of LLY's pipeline, the driver of its performance strategy following the upcoming patent cliff in 2012-2014. However, we caution that LLY's phase 3 pipeline is dominated by investments on therapeutics for AD and cancer, areas with historically high late stage attrition rates. Limited incremental visibility is anticipated for these candidates over the next year. Hence we see no urgency to stepping into LLY, maintain Hold rating." Shares of LLY lost 9 cents yesterday to close at $37.68, a loss of 0.24%.