Google $GOOGL ( ▲ 3.53% ) used to think it was in a monogamous relationship with Search. Now it’s becoming painfully acquainted with our very modern world.

Consumers are spreading their queries across TikTok, Reddit $RDDT ( ▲ 0.88% ), ChatGPT, Perplexity, and whatever new AI browser shows up next week.

In fact, according to Business Insider, nearly half of Gen Z now skips Google entirely when looking for ideas, recipes, or reviews.

Search hasn’t left Google. But it has started playing the field.

— Brooks & Cas

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Bristol-Myers Squibb $BMY ( ▲ 0.68% ) has spent the past few years under a cloud. The drugmaker faces looming patent expirations on major blockbusters. It has weathered clinical setbacks. It has seen revenue for its blood cancer treatment Revlimid fall sharply after losing exclusivity.

Those pressures dragged the stock down nearly 25% over the past five years. But now Barron’s argues the market may have gone too far.

Trading at just over 7x earnings, Bristol offers one of the lowest valuations in large-cap pharma, per the publication. Meanwhile, its dividend yield sits well above the industry average, and new drugs are starting to offset a decline in older products.

Recent results highlight that shift. Revenue rose 3% year-over-year in the third quarter, even as Revlimid sales fell hard. Operating cash flow hit a record. Growth products now account for most of the business.

Bristol’s pipeline is also starting to deliver. Breyanzi crossed the $1 billion annualized mark this year. Cobenfy, its next-generation antipsychotic, continues to scale quickly as physicians transition patients. Analysts view its Alzheimer’s potential as a meaningful wild card.

Piper Sandler’s $PIPR ( ▲ 2.55% ) team sees favorable momentum across both marketed drugs and late-stage candidates. Their $62 price target implies tk% upside from Friday’s close.

Expectations remain modest. But that’s part of Barron’s bull case.

Investors appear to be paying mainly for Bristol’s growth portfolio and getting the legacy business for free. The company’s restructuring plan targets billions in cost savings by 2027. Its balance sheet is solid. Its dividend looks secure.

With low expectations, steady cash flow, and emerging products gaining traction, analysts say this undervalued pharma giant may be ready to turn the page.

Wells Fargo $WFC ( ▲ 0.86% ) just initiated coverage on Anheuser-Busch InBev $BUD ( ▲ 2.81% ) with an Overweight rating. The bank set a $75 price target, implying 20% upside from recent levels.

That bullish stance comes even after a strong year for the brewer, with shares up solidly in 2025. But despite the rally, analyst Chris Carey says AB InBev still looks inexpensive. After facing substantial political pressure over the past few years, the stock trades near multidecade lows relative to peers, and to its own earnings growth.

On top of that, shares have also pulled back from their summer highs, creating what the bank views as a more attractive entry point. Carey argues that several key catalysts could support renewed momentum. One of the biggest is the upcoming World Cup, which could drive a meaningful volume lift.

The challenge is clear. AB InBev’s volumes remain under pressure and could end the year down for the third straight time. But Wells Fargo notes that long-term trends tell a different story.

From 2016 to 2024, volumes rose modestly on average. Pre-pandemic metrics also show steady gains. Carey expects the company to begin returning toward that historical pace as it moves into 2026. The model reflects recent results, long-term averages, and early signs that demand is stabilizing.

Foreign exchange has been a headwind in recent years. Wells Fargo sees a chance that could flip in the company’s favor. If that plays out, the firm argues, AB InBev could deliver its best earnings growth in years.

Margins offer another potential tailwind. The company weathered significant inflation and offset much of it through pricing. With input costs easing, Carey believes gradual margin recovery can take shape.

The call is not based on a rapid turnaround. Wells Fargo sees slow, steady improvement rather than a sharp snapback. But with the stock priced near historical lows, even modest progress could potentially unlock major value.

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Eli Lilly $LLY ( ▲ 1.57% ) officially joined the $1T market cap club on Friday. Analysts think it still has room to run.

The company now sits near the top of global market caps, yet its rise has little to do with AI enthusiasm or cloud spending cycles. The engine seems a lot simpler: the world wants weight-loss drugs, and Lilly is delivering them at scale.

Despite taking the world by storm, the GLP-1 boom is still nascent. Lilly launched Zepbound and Mounjaro in 2023. And supply shortages for obesity drugs only ended last year. Yet Zepbound now captures a clear majority of new prescriptions, pulling ahead of Novo Nordisk’s $NVO ( ▲ 0.06% ) Wegovy as production expands.

That lead is showing up in valuations. Lilly has surged, while Novo Nordisk has slipped. With Medicare and potential Medicaid coverage expanding access for tens of millions of patients, Lilly’s reach seems to be widening fast.

Lilly’s next push is an oral GLP-1 pill. Analysts say it will be cheaper, easier to manufacture, and will enter a market now fully prepared for rapid uptake. When injections debuted, shortages held adoption back. Pills can scale far more quickly.

International growth is accelerating. Mounjaro’s overseas revenue jumped sharply over the past year. A large share still comes from patients paying cash. As Brazil, Europe, and other major markets expand reimbursement, the total global opportunity could become the real story.

Analysts expect Mounjaro and Zepbound to generate more than $40 billion in annual sales by 2026. By decade’s end, expectations rise toward $60 billion, which would make tirzepatide the highest-grossing drug ever.

Risks, of course, remain. Competition from Amgen $AMGN ( ▲ 1.15% ) and Pfizer $PFE ( ▲ 2.62% ) is rising. The long-term patent cliff looms.

But those questions appear to be years away. Right now, Lilly’s momentum looks durable. And if the GLP-1 boom keeps compounding, the trillion-dollar threshold may be just another milestone on a much longer ascent.

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