Merck's "Growth Growth Prospects in 2028+ are Underappreciate - Cantor Fitzgerald Reiterates Merck (MRK) at Overweight with $107 Price Target

Cantor Fitzgerald analyst Louise Chen reiterated an Overweight rating and $107.00 price target on Merck (NYSE: MRK), following a virtual event with the company's scientific and commercial teams.

The analyst comments: "Today (4/5), MRK's scientific and commercial team leaders hosted a virtual investor event following the conclusion of the American College of Cardiology Scientific Session 2022 where they gave an overview of the company’s broad cardiovascular portfolio and pipeline. According to MRK, the overall peak annual commercial revenue opportunity for its portfolio, including initial and future indications, is expected to exceed $10B (includes no business development) approaching the mid-2030s. For context, MRK reported $48.7B of sales in 2021. We think most of this $10B of potential sales is upside to Street expectations. The takeaways from MRK's event support our OW rating and $107 PT for the stock. We continue to think that the company's growth prospects in 2028+ are underappreciated"

For an analyst ratings summary and ratings history on Merck click here. For more ratings news on Merck click here.

Shares of Merck closed at $83.49 yesterday.

By Vlad Schepkov

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