Eli Lilly Just Raised Its 2026 Revenue Forecast by $5.5 Billion. Is the Stock Still a Buy?

LLY raised its 2026 revenue guidance to $91-92 billion from $85-87 billion, a boost of roughly $5.5 billion at the midpoint. Strong GLP-1 sales, led by Mounjaro and Zepbound, drove the increase.

The stock has already run up 57% and trades at 47x earnings. The source article argues LLY remains a buy anyway, pointing to what it calls massive untapped market potential for GLP-1 drugs. The cited opportunities span obesity, cardiovascular disease, addiction treatment, and potentially anti-aging applications.

The guidance jump is the hard number here. The low end of the new range sits above the top end of the prior range ($91 billion versus $87 billion), so this is a full reset of expectations, not a nudge. Interpretation: with the stock up 57%, much of that optimism may already be priced in, and a 47x multiple leaves limited room for execution misses.

The bull case rests on market expansion beyond obesity. The bear case rests on valuation. Both are visible in the same data: a raised outlook on one side, a premium multiple on the other.

NVO and MRK are named as competitive context in the classification, but the source offers no figures on either, so there is no read-through to draw here.