Leerink Partners reiterated an "Outperform" rating for Merck & Co. (MRK). The firm increased its 12-month price target for Merck to $161 from $127. This reflects growing analyst confidence in the company's outlook.
This revision follows other recent price target increases from firms including Guggenheim. Wall Street maintains a consensus "Buy" or "Moderate Buy" rating on the stock. Analysts focus on Merck's pipeline development as the company prepares for the eventual patent expiration of its key cancer drug, Keytruda.