On May 26, 2023, Cantor Fitzgerald analyst Louise Chen reaffirmed her recommendation of Eli Lilly (NYSE:LLY) as Overweight and upheld a price target of $485. This aligns with earlier reports from April 2023, where Cantor Fitzgerald sustained coverage of Eli Lilly with an Overweight recommendation and an average one-year price target of $390.96. Despite this, Eli Lilly’s stock closed at $383.35 on April 24, 2023, which is presently below the new price target of $485.
Eli Lilly and Companys Stock Performance and Future Prospects in 2023
On May 26, 2023, Eli Lilly and Company (LLY) opened at $425.38, slightly lower than the previous day’s closing price of $427.31. Throughout the day, the stock fluctuated within a range of $423.67 to $431.54, with a volume of 1,148,032 shares traded.
Eli Lilly and Company’s market capitalization remains strong at $419.9 billion, indicating that investors have confidence in the company’s future prospects. The company has also shown impressive earnings growth over the past year, with a growth rate of 12.53%.
Eli Lilly and Company’s revenue growth rate over the past year has been modest, at 0.79%. However, the company’s price-to-earnings (P/E) ratio is relatively high, at 67.7, compared to the industry average of 22.
On May 26, 2023, Eli Lilly and Company’s stock performance was mixed compared to its peers in the industry.
Looking ahead, Eli Lilly and Company’s next reporting date is August 8, 2023, with an earnings per share (EPS) forecast of $1.99 for this quarter.
Eli Lilly and Co (LLY) Stock Forecast: Analysts Predict 8.97% Increase in Median Target Price
On May 26, 2023, Eli Lilly and Co (LLY) stock closed at $425.80. According to data from CNN Money, 22 analysts have offered 12-month price forecasts for LLY, with a median target of $464.00. The high estimate is $507.00, while the low estimate is $300.00. The median estimate represents an 8.97% increase from the last price of $425.80.
The current consensus among 25 polled investment analysts is to buy stock in Eli Lilly and Co. This rating has held steady since May, when it was unchanged from a buy rating. This suggests that analysts are optimistic about the future of LLY stock.
Looking at LLY’s current quarter earnings per share, the company reported $1.99. Its sales for the quarter were $7.5 billion. LLY is set to report its next earnings on August 08, 2023.
Overall, LLY’s stock performance on May 26, 2023, is reflective of the company’s strong financials and positive outlook from analysts. With a consensus rating to buy the stock and a median target price of $464.00, investors may see potential for growth in the future.
Discussion about this post