Bank of America Securities Reduces PT on Merck & Co., Inc. (MRK), Keeps a Buy Rating

​Merck & Co., Inc. (NYSE:MRK) is one of the Best Forever Stocks to Invest In Now. On October 10, Tim Anderson of Bank of America Securities reduced the firm’s price target on Merck & Co., Inc. (NYSE:MRK) from $99 to $98, while keeping a Buy rating on the stock.

​The firm sees the company as currently undervalued and with significant potential for growth. Anderson noted that the company faces some near-term challenges, including a decline in Gardasil sales and anticipated competition for its Keytruda. However, he sees significant gross prospects for Merck & Co., Inc. (NYSE:MRK) stemming from upcoming launches, including Winrevair.

​Anderson noted that the company is priced too low, considering its growth prospects. Moreover, he believes that the company’s slightly higher price-to-earnings multiple reflects investors’ confidence in its ability to deliver long-term.

​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.