Since April of 2018, Barclays Has Moved Merck Up -- From $64, To $135…

And during that nearly six year span, the bank has kept larger competitor Pfizer at "equal weight" -- but listed Merck as an "overweight" (the modern version of "buy") rating.

Clearly, the firm thinks (even after doubling) Merck has more clear sailing ahead -- since we are sitting on ~$120 a share, in the NYSE pre-market this morning.

. . .Merck now expects its full-year non-GAAP EPS to be between $1.33 and $1.38, including a negative impact of foreign exchange of approximately 6 percentage points, at mid-October 2023 exchange rates. . . .

To be fair, there are some wild-eyed guesses out there, that seem too rosy on Merck -- as $228 seems too high to be probable in the next year (in my model), but in the main I agree it has room to run. So now we wait for the actual full year 2023 SEC disclosures this week (stay tuned on Feb. 1, 2024). Smiling widely, as my girl blows into town late Thursday night. . . then back to London.

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