Eli Lilly's stock has underperformed the broader market in 2026 despite a strong 5-year run, trading at 40x earnings. Wall Street analysts are modestly bullish with an average price target of $1,325 (11% upside), with 25 of 30 analysts recommending buy. The expanding GLP-1 market, projected to reach $190 billion by 2045, and Lilly's strong patent protection through the late 2030s support a positive outlook despite competitive threats from Novo Nordisk.
Axe note: Strong GLP-1 drug sales power Eli Lilly but USD/ZAR dynamics temper enthusiasm.