According to a Wall Street analyst, Eli Lilly's stock could potentially increase by another 24%. Would it be a good decision to buy the stock at this point?

Reported 4 months ago

Eli Lilly's stock has seen a 90% increase over the past year and a Wall Street analyst predicts it could climb another 24%. The analyst raised the price target to $1,001 per share due to strong demand for the company's weight management drug, Zepbound. Eli Lilly's $9 billion investment in a tirzepatide manufacturing site aims to meet the high demand for its diabetes and weight management drugs. However, with the stock trading at a high multiple, it poses risks for investors despite the potential for market-beating gains if tirzepatide sales reach $50 billion.

According to a Wall Street analyst, Eli Lilly's stock could potentially increase by another 24%. Would it be a good decision to buy the stock at this point?

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