J.P. Morgan Has Underweight Rating On Eli Lilly (LLY)

J.P.Morgan Chase & Co. rates Eli Lilly & Company LLY at Underweight with a $36 price target, after meeting with company management recently. In the research note, J.P. Morgan writes, "We recently met with several members of Lilly's management team in Indianapolis and wanted to share our takeaways from the discussions. The meeting highlighted some of Lilly's key pipeline opportunities as well as the efforts the company is making to prepare itself for its upcoming patent cycle. Overall, Lilly has several interesting late phase II/early phase III pipeline assets, but these assets remain several years from market, which in our view likely results in a prolonged period of depressed earnings in the 2012-2016 timeframe." Shares of LLY gained 56 cents or 1.56% yesterday to close at $36.35. Click here to get trading ideas that could bring you a 100% return.