CNBC reported Monday that Jim Cramer recounted a cybersecurity professional’s view that Eli Lilly could eventually be worth $2 trillion, about 67% above its then-current $1.2 trillion valuation.
The speaker was one of three people Cramer spent time with over the weekend, according to CNBC. Cramer did not identify the person. When the group discussed stocks, the individual selected Lilly and repeated the name after Cramer asked about the person’s connection to CoreWeave, CNBC reported.
CNBC said Cramer also recalled billionaire investor Ken Langone predicting several years ago that Lilly would pass $1 trillion in market value. The outlet reported that the milestone came nearly a year ago, with the company valued at about $1.2 trillion when CNBC published its report. The newer $2 trillion estimate would require a further increase of roughly 67% from that valuation.
Lilly shares stood 15% above their mid-September low and 10.5% higher for October as of CNBC’s Monday report. Over the same month-to-date period, the Dow Jones Industrial Average had gained about 2.8%, the S&P 500 was up 0.3% and the Nasdaq Composite was down 2.4%, CNBC reported. The outlet said health care had outperformed this quarter while technology lagged, as investors looked beyond artificial intelligence for growth.
The company’s next scheduled measure is third-quarter earnings, which CNBC said are due Thursday. Investors will watch for further growth in Lilly’s weight-loss drug business, including whether Foundayo, its daily pill, gains traction. CNBC also identified injectable Zepbound as another of the company’s weight-loss treatments.
CNBC disclosed that Cramer’s Charitable Trust holds Lilly shares. The CNBC Investing Club assigns the stock a hold-equivalent 2 rating.
