Credit Suisse analyst Vamil Divan downgraded Eli Lilly to Neutral saying the valuation looks full with the shares up 13% since mid-August. The analyst sees limited drivers for further upside. He expects Lilly’s sales growth to be flat in 2018 due to patent expiration before returning to growth. Divan keeps an $88 price target for the shares. Lilly closed yesterday down 3c to $87.05.
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