Morgan Stanley Raises Eli Lilly Price Target to $1,344 on 56% Q1 Growth
Eli Lilly's Q1 revenue jumped 56% to $19.8B with EPS of $8.55, driven by a 65% surge in Mounjaro and Zepbound sales across US and international markets. Morgan Stanley raised its price target to $1,344—suggesting ~39.8% upside—and lifted 2026 revenue guidance to $82–$85B.
1. Strong Q1 Performance
Eli Lilly reported first-quarter revenue of $19.8 billion, a 56% year-over-year increase, and non-GAAP earnings per share of $8.55, a 156% rise that exceeded expectations.
2. Analyst Raises Price Target
Morgan Stanley lifted its price target from $1,327 to $1,344 while the stock traded around $961.6, implying a potential upside of approximately 39.8%.
3. GLP-1 Sales Surge
Surging demand for Mounjaro and Zepbound drove a 65% increase in sales volume, with U.S. revenues up 43% to $12.1 billion and international revenues up 81% to $7.7 billion.
4. Increased Full-Year Guidance
Following the robust quarter, Eli Lilly raised its full-year 2026 revenue guidance to a range of $82 billion to $85 billion, reflecting confidence in continued growth momentum.