Merck price target raised to $150 from $135 at BofA

BofA analyst Geoff Meacham raised the firm’s price target on Merck to $150 from $135 and keeps a Buy rating on the shares, citing a higher revenue and earnings outlook following the company’s Q1 “beat and raise” report. The firm, which remains bullish on Merck shares given the company’s strong core business and a number of launches starting this year that could drive upside performance, also expects “ample” business development opportunities in coming years to further diversify away from Keytruda.