Guggenheim reiterated its "Buy" rating for Merck & Co. The firm raised its price target to $170 from $146. This decision follows increased sales estimates for intismeran autogene. Intismeran autogene is an mRNA cancer therapy co-developed with Moderna for treating melanoma.
This analyst action reflects growing confidence in Merck's pipeline growth. This comes as its blockbuster drug Keytruda approaches increased competition. The $170 target suggests a potential upside of over 14% from the stock's previous close. This move follows several other positive analyst updates on Merck in recent weeks.