Upgrade Alert for Merck (MRK)
Merck (NYSE:MRK) was upgraded from Neutral to Outperform at Credit Suisse today. The stock closed yesterday at $62.86 on volume of 25.0 million shares, above average daily volume of 8.4 million.
Merck & Co., Inc. is a global pharmaceutical company that discovers, develops, manufactures, and markets a broad range of human and animal health products. Merck's products include a treatment for elevated cholesterol, a treatment for male pattern hair loss, a preventive treatment for osteoporosis, a treatment for hypertension, and a treatment for allergic rhinitis.
In the past 52 weeks, Merck share prices have been bracketed by a low of $45.69 and a high of $64.00 and closed yesterday at $62.86, 38% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.6%.
Merck (NYSE:MRK) is currently priced 0.7% above its average consensus analyst price target of $62.39. Merck shares have support at the 50-day moving average (MA) of $53.97 and additional support at the 200-day MA of $53.26.
SmarTrend recommended that subscribers consider buying shares of Merck on March 7th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $52.34. Since that recommendation, shares of Merck have risen 22.0%. We continue to monitor MRK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades Merck