CNBC host Jim Cramer remains extremely bullish on Eli Lilly’s (LLY) stock.
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The host of the TV show “Mad Money” has been pounding the table on LLY stock for the better part of a year and says he has high expectations for the pharmaceutical company’s Zepbound weight-loss drug. Now, Cramer says that Eli Lilly is likely to achieve a “trillion-dollar market cap.”
LLY stock currently has a market capitalization of $754 billion, so hitting the $1 trillion milestone will require quite a bit of further growth in the share price. However, Cramer says he considers Eli Lilly to be one of the leading growth stocks in the market today.
Drug Pipeline
While Jim Cramer sees Eli Lilly’s weight-loss medications as being the main driver of the company’s revenue and catalyst for the stock, he says he also likes the company’s drug pipeline, which includes cancer treatments and other potential new drugs.
Like a lot of analysts, Cramer views Eli Lilly’s development of a weight-loss pill as a potential gamechanger for the company and wider pharmaceutical industry, and a development that could push LLY stock much higher than its current level. “I would buy Eli Lilly hand over fist,” said Cramer earlier this year.
Despite the bullish sentiment, LLY stock is only up 3% this year.
Is LLY Stock a Buy?
The stock of Eli Lilly has a consensus Strong Buy recommendation among 19 Wall Street analysts. That rating is based on 16 Buy, two Hold, and one Sell recommendations issued in the last 12 months. The average LLY price target of $999.57 implies 25.58% upside from current levels.
