Merck & Co (MRK) Price Target Lowered to $90 by Wells Fargo Analysts

Wells Fargo analyst Mohit Bansal has maintained his "Equal-Weight" rating on Merck & Co (MRK), but lowered the price target from $97 to $90, a 7.22% decrease. The average 1-year price target for MRK is $101.31, with an upside of 21.79% from the current price of $83.19. The average brokerage recommendation is 2.2, indicating "Outperform" status.

Wells Fargo analyst Mohit Bansal has maintained his "Equal-Weight" rating on Merck & Co. (MRK), but lowered the price target from $97 to $90, representing a 7.22% decrease. This adjustment comes amidst a mixed analyst consensus, with 28 Buy ratings, 26 Hold ratings, and 1 Sell rating in the current month [1].

The average 1-year price target for MRK is $101.31, with an average brokerage recommendation of 2.2, indicating an "Outperform" status [1]. Despite the price target reduction by Bansal, the overall analyst sentiment remains largely positive, with most analysts maintaining their Buy or Hold ratings.

Key factors influencing the analyst ratings include Merck's strong financial performance and attractive valuation, as highlighted by Mohit Bansal [1]. However, challenges such as mixed technical signals and issues with GARDASIL sales and China operations are also noted [1].

For the upcoming quarter, the earnings estimate for MRK is $2.37, with a range of $2.32 to $2.46, and the sales forecast is $17.05B, with a range of $16.78B to $17.37B [1]. Merck has consistently outperformed its industry peers in terms of earnings and sales estimates over the past year [1].

The average analyst price target for the next 12 months is $101.93, with a high forecast of $141.00 and a low forecast of $82.00 [1]. This suggests a significant upside potential, with an average target representing a 24.69% increase from the current price of $81.75 [1].

References:
[1] https://www.tipranks.com/stocks/mrk/forecast