Eli Lilly and Company got a new vote of confidence on May 8, when Guggenheim raised its price target on the drugmaker to $1,235 from $1,183 and kept a Buy rating on the stock. The revised target points to almost 28% upside from the current share price.
The move came after Eli Lilly reported strong first-quarter results on April 30, beating expectations on both profit and revenue. Revenue jumped 56% year over year, while adjusted earnings per share surged 156%, helped by demand for its GLP-1 weight-loss and diabetes drugs that offset lower prices in the US and international markets.
Guggenheim analyst Seamus Fernandez updated the model after those numbers and after Eli Lilly lifted its full-year 2026 outlook. The company now expects 2026 revenue of $82 billion to $85 billion, up from a prior range of $80 billion to $83 billion, and now sees adjusted earnings of $35.50 to $37.00 per share, compared with an earlier forecast of $33.50 to $35.00.
The new target also lands as Eli Lilly remains on a list of the 10 Best US Stocks to Invest in According to Billionaires, a reminder that investors are still treating the company as one of the market’s most closely watched growth names. Eli Lilly discovers, develops, manufactures and markets human pharmaceutical products in the United States, Europe, China, Japan and internationally, giving its results and guidance extra weight for investors looking beyond one quarter.
The question now is not whether the first quarter was strong. It was. The issue is whether Eli Lilly can keep matching the pace implied by a higher forecast and a price target that now assumes more room to run after an already powerful start to the year.
