Investing tends to be concerned with future results, and that means the stock market is often forward-looking. The answer to whether the market has appropriately valued a particular stock in the present depends on what its future holds. What its future holds tends to depend on whom you ask.

With its share prices up 24% year to date, it appears that the market thinks Eli Lilly's (NYSE: LLY) future looks pretty good. Its performance trounced the comparative 16% gains of the S&P 500 index so far in 2023. But is the future still good for this pharmaceutical giant? Or has all the positive sentiment already been priced into the stock?

Let's unpack three reasons the stock still looks like a buy for dividend growth investors and one reason they might want to stay on the sidelines.

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Source Fool.com