J.P. Morgan analyst Chris Schott maintained a Buy rating on Merck & Company with a price target of $120.00. The company received a similar rating from TR | OpenAI – 4o’s Veda Pharmyne, but Wells Fargo maintained a Hold rating. Merck & Company has a one-year high of $120.30 and a one-year low of $73.31, with an average volume of 15.16M.
Merck & Co. (MRK) has been the subject of varied analyst ratings, with J.P. Morgan's Chris Schott maintaining a Buy rating with a price target of $120.00. This rating is echoed by TR | OpenAI – 4o’s Veda Pharmyne, while Wells Fargo holds a Hold rating. The stock has seen significant volatility, with a one-year high of $120.30 and a one-year low of $73.31, and an average daily trading volume of 15.16 million shares.
Technical analysis provides a mixed picture. Several analysts have noted that MRK is trading in a downtrend, with key support levels around $80 and resistance levels at $90 and $92. A recent breakdown below $94.23 suggests further downside pressure. However, some analysts see potential for a short-term rebound, with key resistance at $94.00 and a possible long-term reversal if the stock breaks above $100-$105.
Long-term traders are also considering Merck as an accumulation zone for long-term positions, with targets set at $110 and $124.65, representing potential 27% and 47% upside from the current price, respectively. Patience is advised, with a focus on establishing a firm bottom around $90-$95 and waiting for confirmation of reversal via technical indicators or bullish news catalysts.
In summary, while Merck faces a bearish bias in the short term, long-term investors see potential for a significant upside if the stock can break through key resistance levels. Analyst ratings provide a mixed outlook, with J.P. Morgan and TR | OpenAI – 4o’s Veda Pharmyne bullish, while Wells Fargo is cautious.
References:
[1] https://www.tradingview.com/symbols/TURQUOISE-MRKN/ideas/page-2/
[2] https://www.tradingview.com/symbols/TURQUOISE-MRKN/ideas/page-2/
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