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0.00135623869801077 0.00144665461121154 0.0019891500904159 0.00773056057866175 0.00406871609403245 0.00452079566003617 0.00691681735985534 0.00867992766726938
Stock impact report

Merck upgraded on post-Keytruda growth, AbbVie cut as upside baked in - Wolfe [Yahoo! Finance]

Merck & Company, Inc. (new) (MRK) 
Last merck & company, inc. (new) earnings: 4/28 06:45 am Check Earnings Report
US:NYSE Investor Relations: investors.merck.com/home/default.aspx
Company Research Source: Yahoo! Finance
underestimating Merck's ability to grow beyond Keytruda and has already priced in much of AbbVie's near- and medium-term upside. Wolfe upgraded Merck to Outperform from Peer Perform and set a $135 price target, saying the drugmaker is approaching a new growth cycle supported by acquisitions, pipeline catalysts and a more durable outlook for its top-selling cancer drug. Recent deals like Verona and Cidara add to Merck's revenue base, while late-stage pipeline assets and label expansion opportunities support steady growth even as Keytruda approaches loss of exclusivity. Wolfe now forecasts a five-year revenue CAGR of about 4.2%, above the Street's roughly 2.4%, which it said supports the case for near-term multiple expansion. A central pillar of the call is Keytruda. Wolfe said investors are mis-modeling the drug's patent cliff, noting exclusivity now extends to late 2029 and uptake of the subcutaneous formulation, Qlex, could soften the decline. Wolfe estimates Keytruda sales Show less Read more
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