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Cantor Fitzgerald Lifts Price Targets on Four Pharma Giants Amid Mixed Growth Outlooks

Cantor Fitzgerald just bumped price targets on Eli Lilly, AbbVie, Merck, and Pfizer, but higher targets do not mean equal conviction. The firm's split between Overweight and Neutral ratings reveals a sharp divide in where analysts see real upside and…

By Vandita Jadeja
Published October 9, 2026, 8:00am ET · 3 min read

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A graphic featuring the logos and names of four pharmaceutical companies: Eli Lilly (LLY), AbbVie (ABBV), Merck (MRK), and Pfizer (PFE). Each company name is accompanied by an upward-pointing green arrow. A larger, light blue diagonal arrow pattern overlays the background. Text at the bottom reads 'CANTOR FITZGERALD LIFTS PRICE TARGETS ON FOUR PHARMA GIANTS.' and 'MIXED GROWTH OUTLOOKS.' The '24/7 WALL ST' logo is in the bottom right corner.
Cantor Fitzgerald has increased price targets for Eli Lilly, AbbVie, Merck, and Pfizer, signaling positive outlooks for these pharmaceutical leaders. © 24/7 Wall St.

Cantor Fitzgerald raised its price targets on four drugmakers and left every rating unchanged.

On the Overweight side, Eli Lilly (NYSE:LLY | LLY Price Prediction) went to $1,440 from $1,410 and AbbVie (NYSE:ABBV) went to $290 from $285. On the Neutral side, Merck (NYSE:MRK) went to $145 from $120 and Pfizer (NYSE:PFE) went to $28 from $27.

Every target moved higher, but Cantor still has its strongest conviction in Lilly and AbbVie.

An infographic titled
24/7 Wall St.
Ticker Company Firm Action Old Rating New Rating Old Target New Target
LLY Eli Lilly Cantor Fitzgerald Target Raised Overweight Overweight $1,410 $1,440
ABBV AbbVie Cantor Fitzgerald Target Raised Overweight Overweight $285 $290
MRK Merck Cantor Fitzgerald Target Raised Neutral Neutral $120 $145
PFE Pfizer Cantor Fitzgerald Target Raised Neutral Neutral $27 $28

Analyst’s Case: Four Different Setups

Analyst Carter Gould said Lilly faces a high bar due to its premium 2027 valuation and high consensus expectations. A modest U.S. Zepbound beat, continued Mounjaro momentum outside the U.S., and positive Foundayo news could support the shares despite pricing pressures.

On AbbVie, Cantor said Skyrizi and Rinvoq prescriptions are tracking below consensus, raising questions about second-half upside and whether AbbVie can raise guidance again. The firm also noted mixed expectations for lutikizumab data in hidradenitis suppurativa (HS).

Gould expects a 2027 revision to Merck’s revenue and earnings estimates, competing with several important ESMO presentations the week before. For Pfizer, the MEVPRO-1 results largely sets the near-term setup, with questions about longer-term growth and dividend sustainability remaining open.

Company Snapshot: Growth Rates Diverge Sharply

  • Lilly: Q2 revenue rose 47.7% to $22.97B, and Lilly raised its 2026 revenue guidance to $85–$87B.
  • AbbVie: Revenue grew 10.2%. Skyrizi rose 24.4% while Humira fell 35.9%.
  • Merck: Revenue rose 5.1%. The quarter included a $2.31/share charge for the Terns acquisition, and Winrevair sales climbed 75%.
  • Pfizer: Revenue grew 2.6%, and Pfizer cut its 2026 COVID revenue expectation to about $4 billion.

How It Stacks Up

Ticker Company Cantor Rating Consensus Price Target
LLY Eli Lilly Overweight $1,329.21
ABBV AbbVie Overweight $280.29
MRK Merck Neutral $156.28
PFE Pfizer Neutral $29.03

Cantor’s targets for Lilly and AbbVie sit above Street consensus; its targets for Merck and Pfizer sit below. That split matches the firm’s ratings.

Why the Move Matters Now

Merck has been the best performer of the four this year, up 38.48% year to date, compared with 11.15% for Lilly. Lilly trades near 24x forward earnings, compared with about 10x for Pfizer.

Several catalysts are close. Pfizer expects its first results in the prostate cancer trial in the fourth quarter, and Merck hosts an ESMO investor event on October 26.

What It Means for Your Portfolio

For income investors, Pfizer’s 6.12% dividend yield is its main draw. CEO Albert Bourla said “The dividend will be maintained”, though Cantor lists sustainability as an open question (we highlighted the seven warning signs that usually come before a dividend cut in a free report here: Dividend Traps).

AbbVie pairs a 2.43% yield with double-digit growth. Skyrizi prescription data will show whether that growth holds.

For long-term investors, Lilly and AbbVie have Cantor’s strongest support, while Merck and Pfizer depend more on upcoming catalysts. Keep an eye on the clinical results and 2027 estimate revisions as they come.

Contact [email protected] for any questions or corrections.

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Vandita Jadeja

Vandita Jadeja is a financial publisher with over a decade of experience writing about financial topics, including investment, savings, retirement, insurance and banking. Vandita is a Chartered Accountant who loves to debunk financial concepts for readers.

Her work has appeared on sites that include The Motley Fool, InvestorPlace, and Benzinga. She covers investing and focuses on stock picks and price prediction for 24/7 Wall St.

When not looking for the next stock investment opportunity, she can be found traveling, reading, chasing sunsets and enjoying her iced latte.

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