Merck (MRK) PT Raised to $143 at Truist Securities

Truist Securities analyst Robyn Karnauskas raised the price target on Merck (NYSE: MRK) to $143.00 (from $142.00) while maintaining a Buy rating.

The analyst commented: "MRK reported 1Q24 rev $15.8B beating cons. $15.2B, Non-GAAP EPS of $2.07 vs. cons $1.99. The co. raised & narrowed FY24 guidance range $63.1B-$64.3B and $8.53-$8.65 which is in line with cons and driven by key value drivers including Keytruda, Gardasil, and animal health. The co expects continued growth from Keytruda, particularly in early lung cancer, Gardasil, and anticipates a strong Winrevair launch in PAH, which we see as a foundational component of Company's potential multiB CVD franchise. The co. has 3 upcoming PDUFAs: V116, Keytruda, & MK-1022. Model update for 1Q24 results and FY24 guidance. Reit Buy & PT to $143 Prev $142."

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