In any event, this sort of defense of Merck is what I had in mind last night -- because a $42 handle is near the bottom of fair value for New Merck, in these current market conditions. [I didn't want anyone reading too much into the latest back and 'fro in the Scheingberg Fosamax® ONJ Bellwether trial.]
Do go read all of this -- but here's a bit:
. . . .Eleven equities research analysts have rated the stock with a buy rating, three have issued an overweight rating, and eight have given a hold rating to the company’s stock. The company has a consensus rating of “overweight” and a consensus target price of $48.47. . . .
I think that's about right -- the bolded bit above sounds about right for fair value, 52 weeks from today. I think Merck (and Pfizer, as well) are poised to benefit, on balance, from health care reform in the US -- and I see currencies moderating, as a drag on revenue, for both companies. We shall see.
2 comments:
I'm sure you saw but in case you didn't
http://www.fiercebiotech.com/story/merck-ceo-pledges-persist-good-cholesterol-drug-program/2013-01-24
it is also over at Ed's.
Thanks Anon. --
Actually, I did -- and I mentioned it as a footnote (using the comment box feature) to my latest Tredaptive post (look back about two weeks, or click the link below).
I laid what meager thoguhts I had on the subject out right there, this morning.
Namaste, and do stop back!
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