Pharmaceuticals maker Merck & Co., Inc. (MRK) on Tuesday caught some further bullish commentary from analysts at JP Morgan.
The firm maintained its “Overweight” rating on MRK, noting that recent clinical data is no reason to panic about the stock.
A JP Morgan analyst commented, “While there are notable differences between Merck’s anacetrapib and Roche’s dalcetrapib in terms of both impact to HDL/LDL as well as initial clinical programs for the products, today’s stoppage on a second interim analysis clearly represents an incremental negative to the CETP class. Along these lines, we anticipate Merck shares will be off modestly on today’s news and that anacetrapib will be essentially a free call option in MRK shares pending additional clinical data.”
Merck shares were mostly flat in premarket trading Tuesday.
The Bottom Line
Shares of Merck (MRK) have a 4.36% dividend yield, based on last night’s closing stock price of $38.54. The stock has technical support in the $36 price area. If the shares can firm up, we see overhead resistance around the $40-$42 price levels.
Merck & Co., Inc. (MRK) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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