Pharma giants Abbott Laboratories (ABT) and Eli Lilly & Co. (LLY) saw their ratings adjusted on Tuesday by analysts at Goldman Sachs.
The analyst removed ABT from its "Conviction Buy" list, and removed LLY from its "Conviction Sell" list, but still continues to rate the stocks as a "Buy" and a "Sell," respectively.
Goldman said that it now sees less upside for Abbott shares, and that Eli Lilly's prior placement on the "Conviction Sell" list was mainly due to its underperformance relative to its peers.
Both Abbott Labs and Ely Lilly shares were unchanged in premarket trading Tuesday.
The Bottom Line
Abbott Labs (ABT) has a 2.94% dividend yield, based on last night's closing stock price of $54.49. Eli Lilly has a dividend yield of 5.34%, based on last night's closing stock price of $36.73.
Abbott Laboratories (ABT) is a "recommended" dividend stock, holding a Dividend.com DARS Rating of 3.5 out of 5 stars. Eli Lilly & Co. (LLY) is not recommended at this time, holding a Dividend.com DARS Rating of 3.4 out of 5 stars.
