Merck’s Strategic Acquisition and Growth Potential: Analyst Upgrades Stock Rating to ‘Buy’
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Tim Anderson from Bank of America Securities upgraded Merck's stock rating to 'Buy', citing strategic acquisition of Cidara Therapeutics and growth potential. The acquisition introduces CD388, a promising flu prevention drug, enhancing Merck's Infectious Disease franchise. Anderson raised the price target from $98 to $105, highlighting improved earnings visibility and undervaluation. Jefferies also maintained a Buy rating with a $138 target.
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