Guggenheim lifted its price target on eli lilly and company to $1,235 on May 8, up from $1,183, and kept a Buy rating after the drugmaker’s first-quarter report. The revised call points to almost 28% upside from the current price level.
May 8 Call From Guggenheim
Seamus Fernandez, Guggenheim’s analyst on the name, raised the target after Eli Lilly updated the model with April 30 results. For shareholders, the move is a fresh valuation signal that the market can still justify a higher multiple after a quarter that beat profit and revenue expectations.
$1,235 is the new level Fernandez used after the company’s first-quarter numbers, and it sits above the prior $1,183 target. The change is not a broad rating shift: Guggenheim left the Buy view in place, which keeps the firm on the bullish side of the stock rather than stepping back from it.
April 30 Results For Lilly
56% year over year was the rate of Eli Lilly’s first-quarter revenue growth, while adjusted earnings per share jumped 156% year over year. Those figures explain why the model changed so quickly after April 30, when the company reported strong first-quarter results and beat expectations in both profits and revenue.
Demand for the company’s GLP-1 weight-loss and diabetes drugs helped offset lower prices across the US and international markets. That mix matters because it shows the quarter was not built on one simple price move; volume demand helped carry the result even as pricing pressure showed up in multiple regions.
2026 Guidance After The Quarter
$82 billion to $85 billion is Eli Lilly’s new full-year 2026 revenue forecast, up from the earlier $80 billion to $83 billion range. The company also raised its 2026 adjusted earnings outlook to $35.50 to $37.00 per share from $33.50 to $35.00 per share, giving analysts a higher earnings base to plug into valuation models.
$1,235 is therefore less a stand-alone price call than a test of whether those upgraded forecasts can hold through the rest of 2026. If the revenue run rate and earnings range stay intact, Fernandez’s target leaves room for further upside; if demand cools or pricing pressure deepens, the higher valuation will have less support.
