Investment firm Leerink Partners significantly raised its price target on Eli Lilly (LLY) to $1234 (up from $1104), maintaining an Outperform rating based on strong future revenue projections.
- The upgrade is driven by Leerink's forecast of $94.3B in 2027 revenue, which is 6% above the current consensus.
- The firm cited anticipated growth from the company's obesity drug pipeline, including the expected Q2 2026 launch of orforglipron.
- LLY is trading lower by 0.78% at $1071.90 in pre-market hours, despite the positive news, amid minor sector rotation.