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Eli Lilly Hits All-Time High as JPMorgan Raises Price Target to $1,400

GateNews
Stocks
Eli Lilly stock hit an all-time high on July 8, after JPMorgan analyst Chris Schott raised the price target to $1,400 on July 7, representing approximately 17% upside from the July 6 close. The new target exceeds Wall Street's consensus of around $1,243. JPMorgan's bull case cites strong demand for GLP-1 products, including diabetes drug Mounjaro and weight-loss drug Zepbound, alongside robust pipeline growth. The bank projects second-quarter revenue of $20.7 billion and earnings per share of $8.85, exceeding consensus estimates. Multiple other banks have similarly raised targets, with Cantor Fitzgerald lifting its price objective to $1,350 and RBC Capital Markets maintaining an Outperform rating at $1,250.
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