Merck & Co Given New $48.00 Price Target at BMO Capital Markets (MRK)
Analysts at BMO Capital Markets dropped their price objective on shares of Merck & Co (NYSE:MRK) to $48.00 in a research report issued to clients and investors on Thursday, Analyst Ratings Network.com reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price target would indicate a potential upside of 1.76% from the stock’s previous close.
Merck & Co (NYSE:MRK) traded up 0.19% during mid-day trading on Thursday, hitting $47.26. The stock had a trading volume of 4,870,907 shares. Merck & Co has a 52 week low of $40.02 and a 52 week high of $50.16. The stock has a 50-day moving average of $47.70 and a 200-day moving average of $47.35. The company has a market cap of $138.3 billion and a P/E ratio of 28.25.
Merck & Co (NYSE:MRK) last released its earnings data on Tuesday, July 30th. The company reported $0.84 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.82 by $0.02. The company had revenue of $11.01 billion for the quarter, compared to the consensus estimate of $11.22 billion. During the same quarter in the prior year, the company posted $1.05 earnings per share. The company’s quarterly revenue was down 10.6% on a year-over-year basis. On average, analysts predict that Merck & Co will post $3.48 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on MRK. Analysts at Sanford C. Bernstein downgraded shares of Merck & Co from an “outperform” rating to a “market perform” rating in a research note to investors on Monday. They now have a $50.00 price target on the stock, down previously from $53.00. Separately, analysts at Jefferies Group downgraded shares of Merck & Co from a “buy” rating to a “hold” rating in a research note to investors on Friday, October 11th. They now have a $50.00 price target on the stock, down previously from $53.00. Finally, analysts at Credit Suisse initiated coverage on shares of Merck & Co in a research note to investors on Tuesday, October 8th. They set a “neutral” rating and a $49.00 price target on the stock. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. Merck & Co presently has an average rating of “Hold” and an average target price of $50.90.
Merck & Co, Inc (NYSE:MRK) is a global health care company that delivers health solutions through its prescription medicines, vaccines, biologic therapies, animal health, and consumer care products, which it markets directly and through its joint ventures.
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