Upside scenarios include favorable clinical and regulatory outcomes for key late-stage pipeline assets, and better-than-expected launch trajectories and cost reductions for these products, Jefferies noted.
"We stand by our bull case on Eli Lilly in the belief that the potential of evacetrapib (CETP) should begin to be realized during the next 12 months," Jefferies analysts said.
Additionally, strong cost management with improving gross margins and operating costs in the near to midterm helps drive growth as well, Jefferies added.
Eli Lilly is engaged in drug manufacturing business that discovers and develops market products in human pharmaceutical products and animal health products.
Separately, TheStreet Ratings team rates LILLY (ELI) & CO as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate LILLY (ELI) & CO (LLY) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its expanding profit margins, solid stock price performance and largely solid financial position with reasonable debt levels by most measures. We feel its strengths outweigh the fact that the company has had sub par growth in net income."