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In a report published Monday, BMO Capital Markets reiterated its Outperform rating on Merck & Co.
MRK, but slightly lowered its price target from $50.00 to $49.00.
BMO Capital Markets noted, “We recommend investors buy MRK shares on weakness. Although the upcoming interim analysis of the IMPROVE-IT trial is an overhang for the stock, we doubt the results would be conclusive until the final data is available in 2014. Moreover, in 2013, we expect FDA approvals for two smaller products: Bridion, a neuromuscular blockade reversal agent, and Suvorexant for insomnia. Finally, incremental pipeline data should shift the focus to longer-term growth drivers, e.g. MK-3475, a PD-1 antibody.”
Merck & Co. closed on Friday at $41.83.
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