BMO Capital Moves Merck To "Outperform" -- After Q3 2023 Guidance Bump-Ups... Smile.

Way back in July of 2016 (when we last mentioned a BMO prognostication), while we were indicating what a game changer pembrolizumab was going to be, the folks at BMO had Merck as fully valued at $58. I suppose that wasn't a terribly risky call -- but even as a critic, I thought it was being under-appreciated.

Fast forward to today -- and Merck has a fairly clear runway to 2034-35, on patents on what is now called Keytruda, clocking about $25 billion a year in sales revenue. That's pretty nice. . . runway.

So BMO now calls Rahway as an outperformer, even at ~$104, today. BMO's new call? $132.

Yes. I agree. (But think of how much BMO clients missed, via the call that it was fully valued at $58! Yikes.)

Merck has a minimum of 25 per cent upside just in the next six months of elapsed time.

We won't become a silly maximalist here -- ever the balance, right?

But it does look pretty good for the old George Merck firm, through 2025, to a near certainty. Now you know -- and c'mon, let my Buffs steal one from UCLA tomorrow night! Out.

नमस्ते