Is It Possible Eli Lilly Is Breaking Out To New All-Time Highs?

Is It Possible Eli Lilly Is Breaking Out To New All-Time Highs?

In my September 2023 article, I recommended Eli Lilly as a buy with a five-year price target of $1,020, driven by the anticipation of its blockbuster drug Mounjaro’s approval for weight loss. Since then, the stock has surged by over 40%, and after further positive developments, including strong earnings and an expanding PE multiple, I have raised my five-year target price to $1,455, reflecting 78.3% upside potential. Lilly remains my largest holding, and I continue to rate it as a buy, given its robust growth prospects and momentum.