Eli Lilly: I Expect Strong Q2 Earnings, But The Valuation Is Already Optimistic

wellesenterprises/iStock Editorial via Getty Images Investment thesis My initial bearish thesis about Eli Lilly (NYSE:LLY) did not age well, as the stock slightly outperformed the broader U.S. market since February. It appears that I was too pessimistic in my initial coverage. My valuation analysis suggests that the stock is still massively overvalued, but it looks like investors are ready to ignore the generous premium as long as the company continues delivering massive revenue growth and EPS expansion ...