Eli Lilly Could Be a ‘$2,000 Stock’ in the Next 3 to 4 Years, Says Home Depot Co-Founder Ken Langone

Home Depot Inc. (NYSE:HD) co-founder Ken Langone stated that Mounjaro maker Eli Lilly and Co. (NYSE:LLY) could reach a $2,000 share price within three to four years, noting the drugmaker is currently challenging Home Depot as his largest personal investment holding.

Stock Forecast and Portfolio Rivalry

Speaking on CNBC’s “Squawk Box,” the Invemed Associates chairman and president said Eli Lilly is giving Home Depot “a real run” for the top spot in his portfolio.

“I think Lilly’s going to be a $2,000 stock in the next 3 or 4 years,” Langone said during the broadcast. This target is 70.92% higher than Tuesday’s closing price. “Home Depot better get off its [rear] because Lilly may become number one in the old guy’s portfolio.”

The 50-Year Link to Eli Lilly

Langone detailed that his connection to Eli Lilly dates to 1977. Langone acquired control of San Diego medical-device company IVAC in 1972 and Lilly acquired IVAC in 1977 for roughly $50 million in Lilly stock.

He stated that he has held the stock for nearly five decades, purchasing additional shares during major market pullbacks. When he acquired his initial stake, Lilly had a market capitalization of $2 billion, compared to nearly $1 trillion today.

Pipeline Strength Beyond Obesity Drugs

Langone attributed his valuation target to company leadership and sustained research spending rather than sole reliance on GLP-1 weight-loss medications.

He credited Chairman and CEO David Ricks and Head of R&D Dan Skovronsky with expanding the drugmaker’s broader pipeline, supported by an annual research budget of $17 billion to $18 billion.

“They’re not relying completely on these weight loss drugs,” Langone said. “They’re building a fortress for activities in so many other different areas,” adding that “the best is yet to come.”

Manufacturing Growth and Medicare Gains

Langone’s outlook follows separate comments from CEO Ricks, who announced a $6.5 billion facility in Houston, Texas, to manufacture synthetic active pharmaceutical ingredients for oral GLP-1 medicines, on CNBC. Ricks also confirmed that Lilly captured 70% of new senior Medicare GLP-1 patients since July 1.

How Has LLY Performed in 2026?

Price Action: At the last check, the LLY stock was trading 0.16% higher in overnight trading. It was up 55.00% over the last year, up 8.88% year-to-date, and 6.79% lower over the last month. The stock closed 0.45% higher at $1,170.14 on Tuesday.

Benzinga’s Edge Stock Rankings indicate that LLY maintains a weak price trend in the short term but a strong trend in the medium and long terms, with a good growth score.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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