LLY at a record ~$1,300, now bigger than Berkshire: Goldman lifts PT to $1,413 and BofA to $1,397 ahead of the 29 Oct pr
Posted: Tue Oct 20, 2026 6:24 pm
Lilly is up ~4.5–5% today. It hit an all-time intraday high of $1,311.75 and was trading around $1,298 late morning New York time. Per Dow Jones Market Data, that would be the first record close since 19 August. On the move, market cap went to roughly $1.17tn, ahead of Berkshire.
What's behind it
- Goldman raised its PT to $1,413 from $1,371 (Buy). It expects another Q3 beat and raise, driven by ex-US Mounjaro and Zepbound volume helped by the Medicare GLP-1 Bridge program
- BofA raised its PT to $1,397 from $1,341 on Monday (Buy), citing its physician obesity survey supporting oral GLP-1s
- The EMA's CHMP recommended approval of Foundayo, the oral obesity pill, last Thursday. That leaves the EU Commission decision as the last step
- Positive Phase 3 SHINE-2 data for Omvoh in pediatric ulcerative colitis came out Monday
- Q3 is due 29 Oct. Fiscal.AI consensus is ~$22.49bn revenue and ~$7.11 EPS
My read: this is a pre-earnings rally driven by analyst notes, and it's broken out above the August high (~$1,292) on the first try. Pharma peers are lagging badly: AMGN and NVO are only ~+2%. That makes it LLY-specific buying, not a sector rotation. On a $1,300 stock with daily ranges of $50+, size by dollar risk, not share count. The August high is now the obvious level to see whether the breakout holds.
Sources: [Dow Jones via Morningstar](https://www.morningstar.com/news/dow-jo ... -data-talk) | [Stocktwits via Yahoo on the Goldman PT](https://finance.yahoo.com/markets/stock ... 18139.html) | [24/7 Wall St on Foundayo/EMA](https://247wallst.com/investing/2026/10 ... ge-higher/)
Do you chase a breakout to a record nine days before earnings, or wait for a retest of ~$1,290? And is anyone trading NVO as the laggard pair against it?
What's behind it
- Goldman raised its PT to $1,413 from $1,371 (Buy). It expects another Q3 beat and raise, driven by ex-US Mounjaro and Zepbound volume helped by the Medicare GLP-1 Bridge program
- BofA raised its PT to $1,397 from $1,341 on Monday (Buy), citing its physician obesity survey supporting oral GLP-1s
- The EMA's CHMP recommended approval of Foundayo, the oral obesity pill, last Thursday. That leaves the EU Commission decision as the last step
- Positive Phase 3 SHINE-2 data for Omvoh in pediatric ulcerative colitis came out Monday
- Q3 is due 29 Oct. Fiscal.AI consensus is ~$22.49bn revenue and ~$7.11 EPS
My read: this is a pre-earnings rally driven by analyst notes, and it's broken out above the August high (~$1,292) on the first try. Pharma peers are lagging badly: AMGN and NVO are only ~+2%. That makes it LLY-specific buying, not a sector rotation. On a $1,300 stock with daily ranges of $50+, size by dollar risk, not share count. The August high is now the obvious level to see whether the breakout holds.
Sources: [Dow Jones via Morningstar](https://www.morningstar.com/news/dow-jo ... -data-talk) | [Stocktwits via Yahoo on the Goldman PT](https://finance.yahoo.com/markets/stock ... 18139.html) | [24/7 Wall St on Foundayo/EMA](https://247wallst.com/investing/2026/10 ... ge-higher/)
Do you chase a breakout to a record nine days before earnings, or wait for a retest of ~$1,290? And is anyone trading NVO as the laggard pair against it?