Eli Lilly Stock Upgraded by Goldman Sachs – Is a 20% Upside Possible?Shares of Eli Lilly and Co. (NYSE: LLY) surged in investor interest after Goldman Sachs upgraded the

Shares of Eli Lilly and Co. (NYSE: LLY) surged in investor interest after Goldman Sachs upgraded the stock to ‘Buy’ from ‘Neutral’, setting a new 12-month price target of $888. As of now, Eli Lilly shares are trading around $751.63, suggesting a potential 20% upside from current levels.

From a technical analysis perspective, the weekly chart shows that the share price recently tested and briefly dipped below the 100-day moving average (100MA), but has since recovered and is now trading above this key support level. Investors should closely monitor whether the stock can hold this level as the upcoming earnings season approaches.

A sustained drop below the 100MA could lead to further downside pressure, with the next significant technical support seen around the 200-day moving average, currently at $509.20. However, based on the current chart structure, such a decline appears unlikely in the short term. More realistically, the $560–$580 price range may act as an interim support zone if the 200MA begins to catch up in the coming weeks.

Mixed Technical Indicators for Eli Lilly Stock

In terms of technical indicators, signals are currently mixed:

• The MACD (Moving Average Convergence Divergence) remains bearish, which may cap short-term upside.

• However, the Relative Strength Index (RSI) is forming higher highs even as the stock price has made a lower low—often considered a bullish divergence that can signal a potential reversal or buyer momentum building.

Key Takeaways

• Goldman Sachs price target implies a 20% upside for Eli Lilly stock.

• Price has recovered above the 100-day moving average, an important support level.

• Watch for movement in the $560–$580 support zone if the stock fails to hold current levels.

• Mixed indicators suggest short-term caution, but longer-term upside potential remains intact.