UPDATE: Jefferies Raises PT on Merck & Co. Following Global Pharma Review
In a report published Friday, Jefferies analyst Jeffrey Holford reiterated a Buy rating on Merck & Co. (NYSE: MRK), and raised the price target from $54.00 to $56.00.
In the report, Jefferies noted, “We reiterate Novartis as our Top European and Global Pick with positive growth inflection potential in 2014 and significant restructuring optionality being key drivers. Abbott is our Top US Pick for similar reasons. We highlight Roche, Sanofi and AbbVie as potentially offering particularly attractive entry points following the recent sell-off. AstraZeneca is now our Least Preferred stock.”
Merck & Co. closed on Thursday at $48.73.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.