Eli Lilly's Stock Spikes, Yet Team Jim Cramer Holds Back On Recommending Immediate Buying: 'Wait For A Pullback'
Portfolio Pulse from Benzinga Neuro
Jim Cramer advises investors to hold off on buying Eli Lilly (NASDAQ:LLY) stocks despite the recent price surge. He suggests waiting for a pullback before purchasing, citing the rapid ascent of the stock as a cause for caution. A new 12-month price target of $600 for Eli Lilly has been set, indicating a potential 14% increase from the current price of around $528. The revised price target is influenced by the company's recent earnings report and its position as a leading growth story in large-cap pharma.
August 17, 2023 | 10:11 am
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Jim Cramer advises caution on buying Eli Lilly stocks despite the recent price surge. He suggests waiting for a pullback before purchasing. The company's new 12-month price target is $600, indicating a potential 14% increase.
The news is directly about Eli Lilly and its stock price. Jim Cramer's advice to wait for a pullback before buying could potentially slow down the buying momentum in the short term, leading to a neutral score. However, the new 12-month price target of $600, which is higher than the current price, indicates a positive long-term outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100