Eli Lilly reportedly gets a Buy upgrade and $1,400 target from Berenberg

A September 19, 2026 stock-market post says Berenberg’s global pharma research head, Kerry Holford, upgraded Eli Lilly from Hold to Buy and raised its price target to $1,400—implying about 21% upside from the September 17 close. Holford argued that Lilly’s portfolio and pipeline leave room for further gains, citing what she described as the industry’s strongest R&D productivity. The post credits Mounjaro and Zepbound with much of Lilly’s growth and puts its valuation at roughly 26 times forward earnings, a premium to S&P 500 pharmaceutical peers.