Eli Lilly could be one of the best growth options in the pharmaceutical industry through the next decade, according to Morgan Stanley.
An Eli Lilly & Co. logo is seen on the cap of a pill bottle in this arranged photograph at a pharmacy in Princeton, Illinois.is well-positioned for growth in the near and long-term, according to Morgan Stanley.
The firm upgraded the pharmaceutical company to outperform from equal-weight, saying Eli Lilly has strong prospects in its drug pipeline and its suite of diabetes drugs should see "strong and durable" growth despite rising competition. The stock was up 1.3% in pre-market trading and has risen 8.3% year-to-date.
Morgan Stanley also raised its price target on the stock to $150 per share from $116 and said the company had the potential to boost growth with "tuck-in" acquisitions.
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