10 Best Stocks to Buy Now For the Long Term

6. Eli Lilly and Company (NYSE:LLY)

10-Year Sales Growth: 8.67%

Number of Hedge Fund Holders: 115

Eli Lilly and Company (NYSE:LLY) is a leading multinational pharmaceutical company that develops and markets healthcare products across various therapeutic areas. Its products range from cardiometabolic health, oncology, immunology, neuroscience, and bone and muscle health.

On March 1, analyst Geoff Meacham from Citi reiterated a Buy rating on the stock with a price target of $1,190. Meacham highlighted that the FDA recently expressed concerns about the safety, efficacy, and quality of compounded GLP-1 products, which strengthens the company’s competitive position in this market, particularly for its product Tirzepatide. Moreover, Meacham believes that Eli Lilly and Company’s (NYSE:LLY) 2025 revenue projection of $58 billion to $61 billion is conservative and achievable, supported by the regulatory developments and the company’s strong product pipeline. The company has grown its revenue by more than 8% over the past decade, making it one of the best stocks to buy now for long term.

Parnassus Core Equity Fund stated the following regarding Eli Lilly and Company (NYSE:LLY) in its Q4 2024 investor letter:

“Eli Lilly and Company (NYSE:LLY)stock declined following worse-than-expected third quarter results for its weight-loss drug segment. We initiated our position partway through the quarter, after the drawdown and in time for a partial rebound, and our average underweight for the quarter led to a relative contribution.

In the Health Care sector, we added drugmaker Eli Lilly, which has an exceptional GLP-1 franchise and a strong track record of innovation, which position the company for long-term growth. A rare revenue miss and President-elect Trump’s health secretary nomination sparked a sell-off, providing a window of opportunity to gain exposure to the drugmaker’s attractive product suite and pipeline at an attractive valuation.”