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"We expect this type of solid result throughout 2007, with strong results continuing through decade end," he said.

Hazlett rates the stock at "Outperform," with a price target of $65 per share.

Lilly shares climbed 47 cents to close at $58.87 on the New York Stock Exchange.

The stock peaked at $59.09.

Copyright 2007 Associated Press.

All rights reserved.

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