Citigroup Raises Eli Lilly Price Target on Weight-Loss Drug Optimism
Citigroup has lifted its price target on Eli Lilly (LLY) to $1,500, projecting a 50% upside for the pharmaceutical giant's stock. The bullish outlook follows LLY's breakout above $1,000 per share, with the stock reaching a record high of $1,022.42 this week.
Third-quarter earnings fueled the rally, driven by surging demand for the company's weight-loss treatments. Analyst Geoff Meacham estimates peak annual sales of $40 billion for Eli Lilly's obesity drugs, citing strong consumer interest and expanding market access.
The upcoming launch of oral weight-loss medication Orforglipron could further accelerate growth. Citigroup maintains its Buy rating, noting the drug's competitive profile positions Eli Lilly to dominate the expanding obesity treatment market.
