On October 29th, the stock price of Eli Lilly, a major American pharmaceutical giant ( Eli Lilly ), reached a high of $1,334.24 during trading, setting a new historical record. Over the past year, the company's stock price has risen by 59.36%, and its market value has reached approximately $1.15 trillion.
Driven by strong demand for weight-loss medications and diabetes treatment drugs, Eli Lilly's revenue increased by 49.58% year-on-year in the past 12 months, and the market remains optimistic about its future performance.
Recently, several Wall Street institutions have raised their target prices for Eli Lilly. Among them, Bernstein has raised its target price to $1450, expecting the company's third-quarter revenue to reach $22.62 billion, slightly higher than market expectations, mainly driven by strong overseas sales from Mounjaro.
RBC Capital maintains a "outperforming the market" rating with a target price of $1,500. There is optimism about the sales growth of Zepbound and Mounjaro, despite the fact that drug prices still face certain pressures.
Cantor Fitzgerald has also raised the target price to $1,440, and it is expected that the sales performance of the aforementioned two drugs will continue to support the company's earnings.
