Merit Medical initiated with an Overweight at JPMorgan

JPMorgan analyst Robbie Marcus initiated coverage of Merit Medical (MMSI) with an Overweight rating and $120 price target Merit has established itself as a leader in its end markets within cardiovascular and endoscopy medical supplies and devices, the analyst tells investors in a research note. The firm says the company benefits from a greeter focus and investment in areas that have been overlooked by its larger competitors, as well as its vertically integrated business model. With “healthy, stable growth” in Merit’s core end-markets, “reasonable” expectations set for this year, and the potential for upside from launches in more innovative segments, the firm sees a path to continued upside in 2025 and beyond.