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Wells Fargo Sticks to Its Buy Rating for Merck & Company (MRK)

Tipranks - Tipranks - Tue Jul 28, 5:10AM CDT

In a report released on July 24, Mohit Bansal from Wells Fargo maintained a Buy rating on Merck & Company, with a price target of $150.00. The company’s shares closed last Friday at $131.07.

Claim 55% Off TipRanks

According to TipRanks, Bansal is a 5-star analyst with an average return of 10.9% and a 59.50% success rate. Bansal covers the Healthcare sector, focusing on stocks such as Merck & Company, Gilead Sciences, and Vertex Pharmaceuticals.

Currently, the analyst consensus on Merck & Company is a Moderate Buy with an average price target of $136.35, which is a 4.03% upside from current levels. In a report released on July 23, Goldman Sachs also maintained a Buy rating on the stock with a $137.00 price target.

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Based on Merck & Company’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $16.29 billion and a GAAP net loss of $4.24 billion. In comparison, last year the company earned a revenue of $15.62 billion and had a net profit of $5.08 billion

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