It’s been hard to keep up. That’s the story of the big stock winners this year. They just keep winning and winning and winning. For analysts on Wall Street and here at the Club, it seems like some of these names are smashing through our six-to-nine-month price targets every few weeks. To that end, we’re increasing our Club PTs on four of our portfolio stocks. Eli Lilly price target hike to $850 from $750 Starting with Eli Lilly , which has been nothing short of incredible, advancing roughly 60% in 2023 and tacking on another 30% so far this year. Nonetheless, we continue to see further upside as the company has completely reinvigorated growth on the back of GLP-1 drugs. Following last week’s $120-per-share price target hike to $750 on strong earnings, we’re raising our PT again Thursday to $850. LLY 1Y mountain Eli Lilly 1 year GLP-1s are the new kind of diabetes and weight loss drugs taking the world by storm. Lilly and Novo Nordisk dominate the market. Lilly has Mounjaro for diabetes and Zepbound for weight loss. Novo has Ozempic for diabetes and Wegovy for weight loss. Those four injectable drugs are also being studied to treat a host of conditions from heart disease to sleep apnea. In addition to Zepbound and Mounjaro, Eli Lilly has an exciting pipeline of next-generation GLP-1s, which include a weight-loss pill. Lilly is also waiting on regulator approval for its Alzheimer’s drug donanemab. While trading at a significant valuation premium to its historic forward price-to-earnings (P/E) multiple, this isn’t the Eli Lilly of old. It actually screens quite a bit cheaper when accounting for growth using the PEG ratio, which adjusted the P/E to growth estimates. Even at our new $850 price target, Lilly shares still represent a lower PEG than we’ve seen historically but that provides some margin of safety. The stock hit an all-time high in price Wednesday of 764.05 per share. Costco price target hike to $770 from $680 Costco also trades at a premium valuation,…
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