Merck upgraded to Buy at BofA on consistent revenue upside

As previously reported, BofA analyst Geoff Meacham upgraded Merck to Buy from Neutral with a price target of $130, up from $110. He cites expectations for a continuation of the strong growth trends seen last year and "substantial progress" in diversifying away from Keytruda. Merck’s consistent revenue upside "should be highly valued" at a time when the macro backdrop remains uncertain, Meacham contends.