Merck Upgraded At Credit Suisse (MRK)

Pharmaceutical Company Merck & Co. (NYSE: MRK) was upgraded at Credit Suisse (NYSE: CS) today to outperform. The analyst, Catherine Arnold, also raised her target price on the shares from $35 to $47. She cited a long-term view and said she expects "new interest to come from the pipeline." She also referenced synergies within the company and continued revenue and valuation growth.

Merck's (MRK) stock is rallying on the back of this upgrade and has appreciated over 4% today to $39.06. Year to date, shares of Merck have moved 6.79% higher. The stock has already traded 8.19 million shares versus an average of 13.44 million.