Merck & Co Price Target Raised at Berenberg, Encouraged by Positive Direction
<p>Analysts at Berenberg Bank provided their outlook on <a href='https://financialmodelingprep.com/financial-summary/MRK'>Merck & Co., Inc. (NYSE:MRK)</a>, increasing their price target on the company’s shares to $92 from $86, while maintaining their hold rating.</p>
<p>The price target change was due to a 4-10% increase in the brokerage’s EPS forecasts, which was based on (1) positive data for molnupiravir in COVID-19 treatment, (2) a reduction in Pneumovax/Vaxneuvance sales, more than offset by an increase in Gardasil sales, and (3) the Acceleron acquisition.</p>
<p>While the analysts said they are overall encouraged by the positive direction of travel, they believe more steps are needed to overcome the concentration risk of Keytruda (46% of NPV), with Keytruda adjuvant and/or combination studies’ risk of failure or competitors’ reaching of the market sooner.</p>

NYSE:MRK