Pharmaceuticals maker Merck & Co., Inc. (MRK) on Monday caught some continued bullish sentiment from analysts at UBS.
The firm maintained its “Buy” rating on MRK and lifted its price target from $45 to $50. That new target suggests an 11% upside to the stock’s Friday closing price of $45.10.
UBS noted that Merck’s recent new drug trials are showing a lot of promise. The analyst also sees potential earnings upside for the company.
Merck shares posted small losses in premarket trading Monday.
The Bottom Line
Shares of Merck (MRK) have a 3.73% dividend yield, based on Friday’s closing stock price of $45.10. The stock has technical support in the $41-$42 price area. If the shares can firm up, we see overhead resistance around the $47-$48 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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