LLY - Soaring Eli Lilly Stock Could Climb Another 24% According to a Wall Street Analyst. Is the Stock a Buy Now?
2024-05-28 04:39:00 ET
Eli Lilly (NYSE: LLY) stock is already up by about 90% over the past year, and it could climb even higher. BMO Capital analyst Evan Seigerman recently raised his price target to $1,001 per share, which implies a gain of about 24% from recent prices.
Seigerman recently noted that soaring demand for Eli Lilly's weight management drug, Zepbound, is outpacing supply. The company plans to improve on the current supply shortage, which could benefit Lilly investors in more ways than one.
Before pouncing on Eli Lilly shares, it's important to remember that sell-side analysts will quietly adjust their attention-getting price targets downward if their predictions don't come true. Repairing the damage a missed call can cause your portfolio isn't so easy. Here's a closer look at Eli Lilly to see if it could be right for you.
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Soaring Eli Lilly Stock Could Climb Another 24% According to a Wall Street Analyst. Is the Stock a Buy Now?