Jim Cramer’s Lightning Round: 8 Stocks to Watch

2. Eli Lilly and Company (NYSE:LLY)

Cramer pointed to the market’s reaction to Eli Lilly and Company (NYSE:LLY) stock and stated:

“This stock is as hated now as it was loved not that long ago. It is rather amazing. I’m kind of blown away. I think that it is a buy… I think it’s enough on the selling.”

Eli Lilly (NYSE:LLY) is a global pharmaceutical company that develops and markets a range of treatments, including insulin products for diabetes, drugs for obesity and type 2 diabetes, oncology medications, and treatments for various conditions. In the third quarter, it reported impressive revenue growth, reaching $11.4 billion, which marks a 20% increase year-over-year.

Despite this substantial rise, the company’s shares took a significant hit as the company missed both revenue and earnings estimates. Additionally, the company slightly reduced its guidance for the full fiscal year.

On November 14, Wolfe Research started coverage of the stock with an Outperform rating and a $1,000 price target. The firm noted that the company has experienced a decline of more than $100 billion in market capitalization recently, presenting a potentially favorable buying opportunity as much of this is not yet reflected in the stock price.

Wolfe Research believes that Eli Lilly’s (NYSE:LLY) expected strong performance in 2025, driven by growth in GLP-1 volume, is currently undervalued, and the firm also anticipates continued manufacturing efficiencies from the company’s established production sites.