LLY - in preparation for strong earnings report!Moving on to our next great Stock set up - LLY
Eli Lilly and Company (LLY) has demonstrated robust financial performance, driven by its innovative pharmaceutical offerings, particularly in the weight-loss segment.
In the third quarter of 2024, the company reported a 20% year-over-year increase in revenue, totaling $11.44 billion. This growth was primarily attributed to a 15% rise in sales volume and a 6% increase in realized prices. Key contributors to this success were the weight-loss drugs Mounjaro and Zepbound.
Looking ahead, analysts are optimistic about Eli Lilly's financial trajectory. The company is expected to report fourth-quarter 2024 revenue of approximately $13.5 billion, marking a 45% increase compared to the same period in the previous year. This projection includes significant contributions from Mounjaro and Zepbound, with anticipated revenues of $3.5 billion and $1.9 billion, respectively.
Analysts have expressed positive sentiments, with 10 out of 11 surveyed by Visible Alpha rating the stock as a "buy" and setting an average price target of nearly $986, approximately 21% higher than current levels.
Overall, Eli Lilly's strategic focus on innovative treatments and its strong product pipeline have positioned the company for continued financial success.
So far we believe that the strong fundamentals , and current growth provided by the weight loss drug that has had tremendeous success we would see a positive outcome on their earnigns and growth potetial.
Entry: 813
Target 1: 857 - 1st weak resistance
Target 2:950 - 2nd strong resistance
SL: 750 around the strong support area
