Wall Street Doesn't Expect Eli Lilly Stock to Move Much Higher in 2024. Here's Why Analysts Could Be Wrong.
Skyrocketing 59%. Reaching a market cap of over $550 billion. Vaulting past Johnson & Johnson to become the biggest pharmaceutical company on the planet. No matter how you look at it, 2023 was a pivotal year for Eli Lilly (NYSE: LLY).
It might seem logical to think that Lilly's momentum would continue into the new year. But quite a few of the folks who are paid big bucks to follow the company don't think that will happen. Wall Street doesn't expect Eli Lilly stock to move much higher in 2024. However, here's why analysts could be wrong.
To be sure, some on Wall Street still like Lilly's near-term prospects. Four of the 22 analysts surveyed by LSEG in January rated the stock as a strong buy. Another nine analysts recommend buying Eli Lilly shares.
Source Fool.com
