LLY remains an under-the-radar stock that appears poised for a continuation of its upward trajectory.
Following strong earnings and solid net income in the last quarter, analysts have revised their price targets upward, with some projections reaching as high as $1,000. This suggests a potential return of at least 10%.
From a technical perspective, LLY has posted gains for the week and remains above the 20, 50, and 100-day simple moving averages (SMAs). After reporting positive earnings earlier this month, the stock has undergone a period of consolidation and now appears to be positioning for a breakout. Additionally, the current price action is clearing the gap created by the earnings-induced decline in November of last year.
With prices breaking out and successfully retesting support, I anticipate a potential upside target of at least $945.
Following strong earnings and solid net income in the last quarter, analysts have revised their price targets upward, with some projections reaching as high as $1,000. This suggests a potential return of at least 10%.
From a technical perspective, LLY has posted gains for the week and remains above the 20, 50, and 100-day simple moving averages (SMAs). After reporting positive earnings earlier this month, the stock has undergone a period of consolidation and now appears to be positioning for a breakout. Additionally, the current price action is clearing the gap created by the earnings-induced decline in November of last year.
With prices breaking out and successfully retesting support, I anticipate a potential upside target of at least $945.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.