Merck On Track for $3 Billion in Share Repurchases in 2026, Morgan Stanley Says

MT Newswires Live08-05

Merck (MRK) remains on track to repurchase $3 billion in shares this year, Morgan Stanley said in a note Tuesday.

In its Q2 earnings call, the company reiterated its confidence in the more than $70 billion commercial opportunity from over 20 new pipeline products first laid out earlier this year, the investment firm said.

Morgan Stanley said Merck expressed a bullish view on its pipeline, and characterized the company as more diversified and better positioned for sustainable growth.

Outlook for the stock depends on Keytruda life cycle management, pipeline progress outside of cancer, and M&A capital deployment, according to the note.

Morgan Stanley retained an equal-weight rating on the stock, but increased its price target to $116 from $113.

Shares of Merck were up 1.7% in Wednesday trading.

Price: 130.13, Change: +2.13, Percent Change: +1.66

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment