Jefferies Cuts Price Target on Merck (MRK) to $56; Reiterates Hold
- AT&T (T) Agrees to Acquire Time Warner (TWX) for More than $80 Billion - WSJ
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
- Rockwell Automation (ROK) Said to Attract Takeover Interest from Schneider Electric - Source
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Jefferies reiterated a Hold rating on Merck (NYSE: MRK), and cut the price target to $56.00 (from $57.00), as the company's growth remains constrained.
Analyst Jeffrey Holford commented, "MRK was over-rewarded for the failure of BMY's CM-026 study in our view. Whilst we see a c$3.3bn opportunity for Keytruda in NSCLC it is not enough to drive meaningful growth against upcoming LOEs. We expect competing IO combo data in 2017 will lower investor enthusiasm, though strong growth from Keytruda in Q4'16 may offset this to a degree."
Shares of Merck closed at $62.49 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Jefferies Cuts Price Target on Reliance Steel (RS) Following 3Q EPS Miss and Guidance
- RBC Capital Raises Price Target on Danaher (DHR) Following 'Clean' 3Q Report
- Imperial Capital Raises Price Target on Proofpoint (PFPT) Following Strong 3Q Results
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesJefferies & Co
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!