2024-06-05 14:05:17 ET
Summary
- Eli Lilly has been outperforming the S&P 500.
- The company's blockbuster drug Mounjaro has been approved in China, resulting in high demand and a strong earnings report.
- The five-year target price for Eli Lilly has been raised to $1,455 based on conservative earnings projections and a multiple of 40X.
I first wrote about Eli Lilly ( LLY ) on Sept. 11, 2023, in an article titled “ Eli Lilly Stock Hit New All-Time Highs: Is It Still a Buy? ” At the time, the stock was trading at $595.56 per share and its blockbuster diabetes drug Mounjaro had not yet been approved for weight loss. Although it was almost certain that an approval was coming....
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For further details see:
Is It Possible Eli Lilly Is Breaking Out To New All-Time Highs?