Argus Raises Eli Lilly Price Target to $1,550, Bullish on Sustained GLP-1 Drug Growth

Deep News10-30 20:22

On October 30, Argus raised its price target on Eli Lilly to $1,550 while maintaining a "Buy" rating. Based on the latest share price of $1,373.70, the new target implies roughly 12.8% upside potential, with total return including dividends of about 14%.

The firm believes that strong sales of the diabetes drug Mounjaro and the weight-loss drug Zepbound will drive Eli Lilly's performance growth through 2027 and beyond. In addition, Eli Lilly is developing a next-generation GLP-1 drug, Retatrutide, and plans to submit a regulatory approval application in 2027, further expanding its weight-loss drug product lineup.

On the earnings outlook, Eli Lilly expects 2026 revenue of $91 billion to $92 billion, representing year-over-year growth of 40% to 41%; adjusted earnings per share are projected at $35 to $36, up 45% to 49% year over year. Argus believes that strong demand for existing core drugs and the company's subsequent product pipeline will continue to support its long-term earnings growth.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment