UPDATE: Goldman Sachs Upgrades Eli Lilly to Neutral on Sola Data

Goldman Sachs raised its rating on Eli Lilly

from Sell to Neutral and increased its price target from $42 to $54. Goldman Sachs commented, "We upgrade LLY to Neutral from Sell, as new solanezumab data provides a backbone for the recent “hope trade”. Our skepticism was proven wrong as the data presented at ANA today demonstrates that the beta amyloid thesis is alive and well and that sola could conceivably reach the market in 3-4 years. We raise our price target to $54 on increased pipeline, in addition to Alimta likely remaining on the market for another 5 years." Eli Lilly closed at $50.78 on Monday.