July 13, 2012 at 08:49 AM EDT
Merck Still a “Buy” at UBS after New Osteoporosis Drug Proves Useful in Clinical Trial (MRK)

Pharmaceuticals maker Merck & Co., Inc. (MRK) on Friday received some bullish commentary from analysts at UBS.

The firm maintained its “Buy” rating and $45 price target on MRK, suggesting just a 5% upside to the stock’s Thursday closing price of $42.91. UBS noted that the company’s new osteoporosis drug, dubbed Odanacatib, has shown promise in recently trials.

Merck shares, which have risen nearly 14% year-to-date, were mostly flat in premarket trading Friday.

The Bottom Line
Shares of Merck (MRK) have a 3.92% dividend yield, based on last night’s closing stock price of $42.91. The stock has technical support in the $38-$39 price area. If the shares can firm up, we see overhead resistance around the $45-$47 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.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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