Citi Cuts Merck (MRK) to Hold In Intraday Note; Stock Down 7% Today

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An analyst at Citi has just downgraded shares of Merck (NYSE: MRK) from Buy to Hold amid today's monster 7% sell-off. Citi cut its price target on the drugmaker from $45 to $39.

The stock is tumbling today amid updates from the company's study on its vorapaxar product.

With Merck shares last trading around $34.67, Citi's new price target implies potential upside of about 12%.

For more ratings news on Merck click here and for the rating history of Merck click here.

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