TLDR
- Citigroup analyst Geoff Meacham set a Street-high $1,600 price target on LLY, implying 45% upside from current levels.
- Berenberg upgraded LLY to Buy and raised its price target to $1,400, citing ~25% upside potential.
- LLY currently trades at $1,138, up 2% on the day.
- Eli Lilly holds a 60% global market share in weight-loss drugs, with combined quarterly sales of $14.9 billion for its obesity and diabetes treatments.
- LLY carries a consensus Strong Buy rating from 20 Wall Street analysts, with an average price target of $1,375.78.
Eli Lilly stock is getting attention from multiple directions today, with two separate Wall Street upgrades landing within 24 hours.
Citigroup analyst Geoff Meacham set a $1,600 price target on LLY, the highest on Wall Street. That implies about 45% upside from the stock’s current price of $1,138.
Meacham, a five-star rated analyst with a 59% success rate, reiterated a Buy rating alongside the target. He pointed to Eli Lilly’s dominance in the weight-loss drug market as a key reason for his bullish stance.
Eli Lilly holds a 60% global market share in weight-loss drugs. Its obesity and diabetes treatments, Zepbound and Mounjaro, are generating $14.9 billion in combined quarterly sales.
Meacham also noted that LLY stock has dropped 8% over the past month, calling it a buying opportunity for investors.
Berenberg Joins the Bull Camp
Berenberg upgraded LLY to Buy from Hold on Tuesday and raised its price target to $1,400 from $1,220. The firm sees roughly 25% upside from current levels.
Berenberg said its 2026 return on research investment analysis confirms Eli Lilly’s track record of delivering best-in-class returns. It also expects the company to beat its fiscal 2026 guidance.
The firm flagged an upcoming catalyst: an imminent diabetes approval for Foundayo, Eli Lilly’s oral GLP-1 drug. Foundayo posted around $100 million in sales in Q2 2026, with more growth expected after full approval.
Berenberg also highlighted Eli Lilly’s pipeline investments, noting that many new assets carry multibillion-dollar sales potential. The company has committed around $60 billion across more than 25 business development deals year to date.
More Analysts Back the Stock
LLY carries a consensus Strong Buy rating from 20 Wall Street analysts. The breakdown is 18 Buy ratings and two Hold ratings. The average price target across the group sits at $1,375.78, implying about 12% upside from current levels.
BMO Capital and JPMorgan both reiterated positive ratings on LLY recently. Both firms maintain a $1,400 price target, citing growth in the incretin segment.
Eli Lilly’s financial picture backs up the bullish tone. The company posted nearly 50% revenue growth over the last twelve months and carries a perfect Piotroski Score of 9.
The Medicare Bridge program is also driving increased demand for Eli Lilly’s obesity drugs, according to Berenberg.
Rival Novo Nordisk, which holds a 38% global market share in obesity drugs, announced a rebrand, going forward as simply “Novo.” The company is set to outline a detailed business strategy at a Capital Markets Day scheduled for September 21.
Eli Lilly also plans to acquire Merida Biosciences for approximately $2.875 billion in cash to strengthen its autoimmune and allergic disease portfolio.
LLY traded at $1,138.28 on Tuesday, up $22.58, or 2.02%, on the session.
