Merck & Company, the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Evan Seigerman from BMO Capital maintained a Hold rating on the stock and has a $82.00 price target.
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Evan Seigerman has given his Hold rating due to a combination of factors surrounding Merck & Company’s current market position and future prospects. A significant element in this decision is the recent stabilization of Gardasil’s revenue, which, although a positive development, does not indicate substantial growth in the near term. This stabilization helps to resolve some of the uncertainty that has affected Merck’s stock but does not eliminate concerns entirely.
Another critical factor is the looming loss of exclusivity for Keytruda, Merck’s flagship product. While Merck has made progress with other products like Winrevair and Ohtuvayre, these are not yet sufficient to fully offset the potential revenue decline from Keytruda’s exclusivity loss. The market’s expectations need to adjust to this reality, and until there is more clarity on how Merck will navigate these challenges, the stock remains a Hold.
In another report released on October 27, Berenberg Bank also maintained a Hold rating on the stock with a $90.00 price target.
MRK’s price has also changed slightly for the past six months – from $85.200 to $86.280, which is a 1.27% increase.