BUZZ-BMO upgrades Merck to 'outperform' on multiple upcoming catalysts
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BMO Capital Markets upgraded Merck to "outperform" from "market perform," raising the price target to $130, indicating a 32.2% upside. BMO cites Merck's strategic portfolio assembly to counter Keytruda's 2028 exclusivity loss, with new products expected to offset revenue loss. Investors are focusing on upcoming catalysts, with commercial outperformance expected from Enflonsia, Reblozyl, and Welireg. BMO is confident 90% of Keytruda's peak sales can be replaced by mid-2030s.
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