Berenberg: Eli Lilly Poised to Remain Dominant in Obesity, Diabetes; Price Target, Forecasts Up

07:22 AM EDT, 08/13/2026 (MT Newswires) -- Berenberg views Eli Lilly (LLY.SW, LLY.F) as well placed to retain its dominance in the obesity and diabetes space, supported by several upcoming catalysts, as it noted the pharmaceutical giant's second-quarter results. "Eli Lilly delivered another strong performance in Q2, prompting a full year guidance raise. Starting July 1, evidence of boost to Lilly obesity drug volume is already apparent. While Foundayo US obesity demand growth has been somewhat lacklustre ytd, the promise of an approval in diabetes, incremental access via Medicare and a full-scale advertising campaign should drive an acceleration in demand and sales ramp starting H2," analysts said in a note published Thursday. "We are encouraged by the recent allocation of capital to external pipeline opportunities outside obesity/diabetes, promising future tirzepatide diversification (c65% of total NPV)." As such, the price target was increased to $1,220 from $1,135, while the hold recommendation on the stock was left unchanged. EPS and sales forecasts over the 2026 to 2028 period were also raised, as were the EBIT projections. The research firm also identified the additional phase 3 retatrutide and Foundayo obesity co-morbidity data and the phase 2 tirzepatide plus eloralintide obesity combination data as key catalysts in the second half.