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Here are the biggest calls on Wall Street on Wednesday:
Goldman Sachs added the drug maker to its conviction buy list and said the company's profile is among the strongest in the U.S. large cap biopharma sector.
"LLY's growth profile is among the strongest in US large cap biopharma, driven by exposure to high growth categories (i.e., GLPs for diabetes) and a number of new product cycles, which coupled with significant margin expansion, limited exposure to near-term LOEs, a favorable US channel mix and a 2.2% dividend yield, positions the stock for continued outperformance this year , in our view."
Bank of America lowered its price target on Apple and said it now sees a possible delay in the launch of a 5G iPhone.
"Our recent call on the impact of Covid-19 highlighted the possibility of a delay in the launch of iPhone SE2 (now likely in C2Q). Our model now assumes zero units of iPhone SE2 for the Mar quarter. The call also highlighted the possibility of a month delay in the launch of the 5G iPhone; however, for now, we continue to model the launch in Sep. The actual launch timing will depend on how production ramps back up in Apr and May."
Read more about this call here.