Analyst Akash Tewari from Jefferies maintained a Buy rating on Merck & Company (MRK – Research Report) and decreased the price target to $138.00 from $150.00.
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Akash Tewari has given his Buy rating due to a combination of factors influencing Merck & Company’s financial outlook. Despite some obstacles, such as competition for Keytruda and challenges in the Gardasil market in China, Merck’s performance in the fourth quarter was strong, with revenues and earnings per share exceeding expectations. The company is navigating near-term issues by diversifying its pipeline, showing potential for future growth.
Additionally, Merck’s stock appears to be undervalued on a price-to-earnings basis, trading at levels comparable to its peers. While the stock may face short-term challenges related to upcoming data releases and market conditions, Tewari remains optimistic about Merck’s long-term prospects. The company’s strategic initiatives and confidence in their innovative treatments contribute to the positive outlook, justifying the Buy rating.
In another report released today, Citi also maintained a Buy rating on the stock with a $115.00 price target.