Guggenheim Raises Eli Lilly Price Target To $948, Cites Strong Mounjaro Trends

Core Viewpoint - Guggenheim has raised its price target for Eli Lilly & Co. to $948.00 from $875.00 while maintaining a Buy rating, reflecting positive expectations for the company's upcoming financial performance [1] Group 1: Sales Forecasts - Mounjaro sales are projected to reach $5.49 billion for the quarter, slightly above consensus estimates of $5.43 billion, with $3.50 billion expected from the U.S. market [1] - For Zepbound, U.S. sales are projected at $3.35 billion, compared to Street expectations of $3.42 billion [2] - Overall third-quarter sales for Eli Lilly are forecasted at $16.06 billion, with earnings per share estimated at $6.32, broadly in line with consensus of $6.35 [2] Group 2: Market Dynamics and Growth Potential - Analysts noted potential variability in quarterly results due to pricing dynamics, international launches, and rebate adjustments, but they maintain confidence in Eli Lilly's long-term growth trajectory [3] - Key catalysts for future growth include ongoing developments in orforglipron filings, retatrutide trials, and the upcoming readout for Alzheimer's drug Kisunla [3]