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. 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 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 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. 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.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

This article is originally published at Insider Monkey.