Bernstein Starts Coverage of Merck with Market Perform Rating
Analysts See Potential for Significant Growth
Fintel reports that on October 17, 2024, Bernstein initiated coverage of Merck (XTRA:6MK) with a Market Perform recommendation.
Price Target Indicates a 28.35% Upside
As of September 25, 2024, the average one-year price target for Merck stands at 129.37 €/share. Predictions vary, with a low estimate of 114.43 € and a high of 147.51 €. This average reflects a potential increase of 28.35% from its last closing price of 100.80 € / share.
For further insights, explore our leaderboard of companies with the largest price target upside.
Merck’s Projected Revenue and Earnings
The anticipated annual revenue for Merck is projected at 62,221MM, showing a slight decrease of 0.41%. The expected annual non-GAAP EPS is 8.65.
Institutional Investor Sentiment
Currently, 5,087 institutions are reporting positions in Merck, a rise of 28 owners, or 0.55%, in the last quarter. The average portfolio allocation for these funds in 6MK is 0.74%, up by 10.18%. Total institutional shares increased by 3.55% over the last three months, totaling 2,164,637K shares.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares owns 80,020K shares, representing 3.16% of Merck. Previously, the firm held 79,658K shares, marking an increase of 0.45%, though it reduced its portfolio allocation in 6MK by 8.35% last quarter.
Wellington Management Group LLP now holds 72,482K shares, accounting for 2.86% ownership. This is down from 86,348K shares, marking a significant decrease of 19.13%, along with an 88.82% reduction in portfolio allocation for 6MK in the last quarter.
VFINX – Vanguard 500 Index Fund Investor Shares owns 65,007K shares or 2.56% of the company. It previously held 63,859K shares, representing a 1.77% increase, while decreasing its portfolio allocation in 6MK by 9.59% last quarter.
Geode Capital Management currently owns 57,021K shares, equating to 2.25% ownership, having increased from 56,411K shares by 1.07%. However, its portfolio allocation in Merck dropped by 53.01% last quarter.
Bank of America is holding 39,280K shares, corresponding to 1.55% ownership. They increased their holdings from 36,012K shares, reflecting an 8.32% rise, yet also slashed their portfolio allocation in 6MK by 76.01% last quarter.
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This story originally appeared on Fintel.
The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
