Are Wall Street Analysts Wrong About Eli Lilly Stock?
Eli Lilly (NYSE: LLY) has been a scorching hot buy in 2023 -- its shares are up more than 55% so far this year. But with the stock trading now at a multiple of 80 times earnings, it certainly isn't cheap. And if you go by Wall Street's price targets, you might think the stock is indeed expensive and that it's too late to invest.
Are analysts right? Has the stock already peaked, or is there still time to buy shares of this top pharmaceutical company?
Based on analysts' consensus price target of $532.78, Eli Lilly's stock -- lately in the neighborhood of $575 -- is already well past the peak and potentially due for a decline. Some analysts have been upgrading their price targets. But even based on the 10 most recently issued price targets, most of those analysts see less than 10% upside potential for the stock in the next year.
Source Fool.com
