Up 10% in 1 Day, Is It Too Late to Buy Eli Lilly Stock?

With shares of Eli Lilly (NYSE: LLY) temporarily jumping more than 10% on Aug. 8 following its earnings report for the second quarter, it's easy to conclude that the company's spate of good performance is destined to continue forever.

But is there evidence to actually support that assertion, or is it a mirage masking an investment that's sure to burn investors who buy in right now? There's at least one argument in favor of each of those perspectives.

One reason it's not too late to buy this stock is that Eli Lilly is making more money than it expected to at the start of the year. Management raised revenue guidance to a ceiling of $46.6 billion, or a huge 38% anticipated growth from last year's levels. Plus, it raised its minimum earnings per share (EPS) guidance by a solid 15%, to $15.10.

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Source Fool.com