Eli Lilly and Company (LLY)
Recap: Q2 2026
$23.0B and a 370bp Margin Inflection, But Foundayo Undershoots and $2.8B of Deal Charges Swallow the EPS Raise — Maintaining Outperform, FV to $1,150–1,300
Recap: Q1 2026
Foundayo Launches, FY26 Guide Raised by $2B, Retatrutide Type-2 Diabetes Reads Through — Maintaining Outperform, FV $1,000–1,200
Recap: Q4 2025
$19.3B Quarter, Key Products +91%, FY26 Guide of $80–83B Revenue and a Pipeline That Just Doesn't Quit: Maintaining Outperform
Recap: Q3 2025
Six Phase III Orforglipron Trials Clear the Path to a 2026 Oral GLP-1 Launch, Mounjaro Internationals Accelerate, and the FY25 Guide Goes Up Again: Upgrading to Outperform
Recap: Q2 2025
Tirzepatide Franchise Compounds, FY Guide Raised $1.5B at Midpoint, Orforglipron ATTAIN-1 Reads Below the Injectable Bar — Initiating LLY at Hold