Bernstein lifts Eli Lilly price target to $1,450 on Mounjaro outlook

what happened

Analysts at Bernstein SocGen Group raised their price target on Eli Lilly to $1,450 from $1,385 and maintained an Outperform recommendation. The bank expects third-quarter revenue of $22.62 billion, 0.8% above the Bloomberg median of $22.45 billion, driven mainly by international Mounjaro sales. Adjusted EPS is forecast at $5.48, in line with consensus after accounting for a $4.20 billion charge for acquired in-process research and development.

Bernstein's Zepbound and Foundayo estimates are broadly aligned with the Street. For 2027 it now sees revenue of $111.4 billion and EPS of $53.09, mostly on higher Zepbound and U.S. Mounjaro forecasts. The 2026 revenue estimate was raised to $90.01 billion, while 2026 EPS was cut to $33.19 to reflect the third-quarter research charge. The bank also moved the modeled effect of BALANCE pricing from 2027 to 2028; it says this supports near-term numbers but does not represent a lasting improvement in economics.

As of 11:50 a.m. ET, Lilly shares were up 0.41% intraday. The information is according to gurufocus.com.

why it matters

This is one of many estimate updates for a large drugmaker, so the move mainly shapes sentiment around the stock rather than the broader market. Investors will watch how Mounjaro and Zepbound sales develop, and how the research charge and the BALANCE pricing timeline play out in coming quarters.

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