Goldman Sachs Reduced the PT on Merck & Co., Inc. (MRK), Kept a Buy Rating

Merck & Co., Inc. (NYSE:MRK) is one of the Best Stocks to Invest in for High Returns. On July 30, Goldman Sachs analyst Asad Haider maintained a Buy rating on Merck & Co., Inc. (NYSE:MRK) while reducing the price target from $99 to $94.

The analyst noted that despite recent complexities in the company’s financial update released on July 29, the bottom line surpassed expectations. Moreover, the Gardasil vaccine franchise in the United States and China has been a concern, however, the company’s new product Winrevair is showing strong growth potential. Management is optimistic about expanding its label and anticipates supportive data from the HYPERION trial later this year, which boosts confidence in future growth.

Haider also highlighted the company’s $3 billion optimization plan as another positive. Through this initiative the company aims to shift resources from slower-growth areas to new product launches and research and development. The analyst believes that while this might increase costs temporarily however, it supports long term expansion.

Merck & Co., Inc. (NYSE:MRK) is a global healthcare company that develops and sells prescription medicines, vaccines, and animal health products.

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