Morgan Stanley analyst David Risinger upgraded his sector view on Major Pharmaceuticals to Attractive from In-Line. The analyst this morning also upgraded shares of Eli Lilly (LLY) to Overweight from Equal Weight with an increased price target of $150. His other Overweight-rated U.S. Major Pharma stock is Merck (MRK). The Pharma sector offers “strong growth and attractive valuations,” Risinger tells investors in a research note. While admitting the 2020 political landscape needs to be watched closely, the analyst sees share drivers as being results relative to expectations, pipeline news flow, pricing developments, and election outcomes. Risinger expects most manufacturers to increase U.S. list prices in the mid-high single digit percentage range in 2020 and experience flattish net price inflation.