Jim Cramer shared insights from a conversation with tech insiders who expressed strong confidence in Eli Lilly, suggesting it could achieve a $2 trillion market cap. This follows billionaire investor Ken Langone's earlier prediction that the company would surpass a $1 trillion valuation, which it did last year, currently valued at approximately $1.2 trillion.
Cramer noted that Eli Lilly has become a leader in GLP-1 medications, with its stock recently hitting a record high of over $1,306. The stock has surged 15% since mid-September, largely due to enthusiasm for its weight-loss drugs, Zepbound and Foundayo.
As healthcare stocks outperform tech this quarter, Eli Lilly stands out, gaining 10.5% month-to-date compared to the Dow's 2.8% gain and the S&P 500's 0.3% increase. Investors are keenly awaiting the company's third-quarter earnings report, which will provide further insights into the growth of its weight-loss drug business