LLY, ABBV Stocks Hit All-Time High – Here’s What’s Driving Investor Enthusiasm Today

• UBS said Lilly’s underlying momentum and a higher Q4 growth run rate could potentially make current estimates appear too conservative.
• AbbVie’s Q3 revenue rose 10.3% to $17.40 billion, driven by over 16% growth in its immunology business.
• AbbVie raised its FY 2026 revenue forecast to $67.8 billion from $67.6 billion and adjusted EPS guidance to $13.95 - $13.99 from $13.76 - $13.96.

Shares of Eli Lilly (LLY) and AbbVie (ABBV) climbed to new record highs on Friday after the pharmaceutical behemoths reported stronger-than-expected third-quarter earnings and raised their full-year 2026 outlooks.

LLY stock was up 3.5% at the time of writing, extending its gains to a fifth straight session. It is on track to post its biggest monthly gains since November 2025. Meanwhile, ABBV shares rose 1.6%.

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Wall Street Sees Upside For LLY After Q3 Earnings Beat

Analysts turned bullish on Eli Lilly (LLY) on Friday, betting on its obesity-drug leadership and expanding pipeline. Scotiabank raised its target to $1,605 from $1,300 and held an ‘Outperform’ rating, expecting Lilly to maintain its obesity-market dominance through ‘next-generation products’ and acquisitions.

Truist lifted its target to $1,612 from $1,376, and maintained a ‘Buy’ rating. The firm said Lilly currently has only about 10% market penetration in obesity, and expansion of its incretin franchise and pipeline will cement its dominance in “diabesity” for years to come.

On Thursday, Lilly reported a 39% increase in Q3 revenue to $24.4 billion, while adjusted earnings rose 7% to $7.48 per share. Mounjaro sales surged 65% to $10.72 billion, while Zepbound revenue rose 49% to $5.35 billion. Lilly also raised its 2026 revenue outlook to $91 billion-$92 billion from $85 billion-$87 billion. However, the company trimmed its bottom-line guidance to $35-$36 per share from $35.5-$36.5 per share.

UBS said Lilly’s underlying momentum and a higher Q4 growth run rate could potentially make current estimates appear too conservative.

Retail sentiment surrounding LLY on Stocktwits turned ‘extremely bullish’ from ‘bullish’ a day earlier. The stock has gained more than 31% so far in 2026.

AbbVie Raises FY26 Outlook

AbbVie reported better-than-expected Q3 earnings on Friday, driven by strong growth in its immunology business.

Revenue rose 10.3% to $17.40 billion, beating Wall Street’s estimates of $17.34 billion, according to Fiscal.ai. Adjusted earnings more than doubled to $3.82 per share, exceeding consensus estimates of $3.77 per share.

Immunology revenue increased 16.3%, with Skyrizi, its autoimmune drug for psoriatic arthritis and Crohn’s disease, among others, generating $5.78 billion. Rinvoq, prescribed for inflammatory conditions including rheumatoid arthritis and eczema, saw sales surge nearly 24%.

AbbVie also raised its FY 2026 revenue forecast to $67.8 billion from $67.6 billion and adjusted EPS guidance to $13.95 - $13.99 from $13.76 - $13.96.

In a call with analysts, chief scientific officer Roopal Thakkar said the company is interested in expanding its obesity-treatment pipeline, according to The Fly.

Meanwhile, retail sentiment for ABBV on Stocktwits remained ‘neutral’ over the past 24 hours. The stock has gained about 29% in 2026.

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