The bullish outlook for Eli Lilly (LLY) suggests that the stock is expected to increase in value. Here's a detailed analysis based on recent data and market trends:
- Recent Developments: Eli Lilly has been in the news for its upcoming FDA advisory committee meeting on June 10 to discuss its Alzheimer's treatment, donanemab. The company has also seen significant growth in sales of its weight-loss drug Zepbound and has raised its sales outlook by $2 billion1.
- Stock Performance: The stock price of Eli Lilly has been volatile but has shown a general upward trend. It reached a high of $800.78 in the past 12 months and a low of $417.40. The current analyst consensus is a Strong Buy with an average price target of $892.29, indicating a potential upside2.
- Technical Indicators: The Relative Strength Index (RSI) is a momentum indicator that helps identify overbought or oversold conditions. The RSI for Eli Lilly is currently at 54, which is considered neutral but leaning towards the bullish side3.
- Price Targets and Forecasts: Wall Street analysts have set an average 12-month price target of $888.72 for Eli Lilly, with a high forecast of $1,001.00 and a low forecast of $740.00. This represents a potential upside of 17.74% from the last price of $754.804.
- Long-Term Forecasts: More long-term forecasts suggest that Eli Lilly's stock price could reach $1,182.54 by 2025, with significant yearly increases projected for the next few years5.
Based on these factors, it is reasonable to expect that Eli Lilly's stock price could continue to rise towards the end of 2024 and into 2025. However, it's important to note that stock prices are subject to market fluctuations and uncertainties, and forecasts are not guaranteed to be accurate.
7/10/2024 08:06am
