Goldman Sachs Slashes PT on Merck & Co. (MRK) to $94 From $99, Keeps a Buy Rating

Merck & Co., Inc. (NYSE:MRK) is one of the top cheap pharmaceutical stocks to buy now. Goldman Sachs analyst Asad Haider maintained a bullish stance on Merck & Co., Inc. (NYSE:MRK) on July 30, giving the stock a Buy rating and lowering the price target to $94 from $99.

Merck (MRK) as a Reliable Dividend Player in the Dogs of the Dow Lineup

A close-up of a person’s hand holding a bottle of pharmaceuticals.

The analyst told investors that despite complications in Merck & Co., Inc.’s (NYSE:MRK) recent financial updates, the company’s bottom line surpassed expectations.

While he acknowledged that the uncertainty regarding the Gardasil franchise, particularly in the US and China, has been a concern, the analyst also stated that Merck & Co., Inc.’s (NYSE:MRK) new product cycle, Winrevair, shows promising potential.

Management expressed optimism about the potential label expansion, and data from the HYPERION trial later this year further supports the positive outlook, according to the analyst.

Merck & Co., Inc. (NYSE:MRK) is a biopharmaceutical company that delivers health solutions to advance the treatment and prevention of diseases in animals and people.

Its Pharmaceutical segment offers vaccines and human health pharmaceutical products, typically therapeutic and preventive agents. Its Animal Health segment develops, discovers, manufactures, and markets a range of vaccines and veterinary pharmaceutical products.

While we acknowledge the potential of MRK to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MRK and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.