Key Takeaways
- Eli Lilly shares rose 4.6% today to a record high after Goldman Sachs raised its price target to $1,413 from $1,371 and kept its Buy rating.
- Goldman is the second Buy-rated bank to raise its Lilly target in two days, after BofA raised its target to $1,397 on Monday.
- Analysts expect revenue of $88.5 billion this year, up from $65.2 billion in 2025, and Lilly reports third-quarter results on October 29.
- Both targets work out to about 36x forward earnings, above today’s roughly 33x but still below Lilly’s five-year average of 40x.
Eli Lilly (LLY) shares are up 4.6% today (trading at about $1,296) after Goldman Sachs raised its price target on the stock to $1,413 from $1,371 this morning and kept its Buy rating. The rally took the stock to a record high.
That’s two Buy-rated banks in two days. On Monday, BofA raised its target to $1,397 from $1,341. It expects Foundayo, Lilly’s oral GLP-1, to keep gaining market share over the next 12 months, and its third-quarter survey of doctors who treat obesity supports that view. (The stock still slipped 1.3% on Monday.)
Lilly has company today, too. Merck (MRK) is up 2.8%, and big drugmakers are rallying across the board.
A High Bar for Lilly’s Earnings
Lilly reports third-quarter results on October 29, and Zacks’ consensus calls for $22.11 billion of revenue, up 26% from the same quarter a year ago.
Revenue nearly doubled in two years, from $34.1 billion in 2023 to $65.2 billion in 2025. Analysts expect $88.5 billion this year and $115 billion by 2028. Growth slows to about 15% in 2027, though.
Lilly traded at 31.8x forward earnings at Monday’s close, well below its five-year average of 40x and far from its 67.2x peak in October 2023. Today’s move takes it closer to 33x, and Goldman’s target works out to about 36x.
How Much Room Lilly Stock Has Left
With big drugmakers rallying alongside Lilly, some of today’s gain likely reflects the sector rather than Goldman’s note alone. The targets still hold up on Lilly’s own numbers, since neither one needs the stock to trade above its five-year average of 40x forward earnings.
Both targets sit less than 10% above today’s price, though. Lilly depends heavily on its obesity and diabetes drugs, so any sign that demand is slowing would hit the stock hard. The real test comes on October 29, when Lilly shows whether Foundayo has built on the $98 million it sold in the second quarter.
Want to see how far Lilly’s revenue estimates and forward P/E have moved? You can pull up the same charts on TIKR for free. Learn more here.
So what is Eli Lilly stock actually worth?
TIKR lets you forecast the future price of any stock in less than a minute. Just enter a few assumptions into TIKR’s valuation model and see what Eli Lilly could be worth. Start from Wall Street consensus estimates, or adjust the inputs to reflect your own view of the business. It’s free to use.
Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any of the stocks mentioned. Thank you for reading, and happy investing!
