Home / Business and Economy / Merck Stock Surges on Wells Fargo Upgrade
Merck Stock Surges on Wells Fargo Upgrade
28 Nov
Summary
- Wells Fargo upgraded Merck's rating to 'Overweight'.
- Merck's stock gained 23.9% in the last three months.
- Third-quarter sales rose 4% year-over-year to $17.28 billion.
Merck & Co., Inc. (MRK) is experiencing positive momentum following a significant upgrade from Wells Fargo, which raised the company's rating to 'Overweight.' This positive outlook has contributed to a notable surge in Merck's stock performance, with gains of 23.9% over the last three months, surpassing the broader healthcare sector.
The company recently announced robust third-quarter fiscal 2025 results, showcasing a 4% year-over-year increase in sales to $17.28 billion. This growth was primarily fueled by its pharmaceutical division, particularly in the oncology, cardiovascular, and diabetes segments. Furthermore, Merck reported a substantial increase in adjusted earnings per share (EPS), significantly exceeding analyst expectations.
Merck's strategic initiatives, including the acquisition of Verona Pharma and increased investment in R&D and U.S. manufacturing, are anticipated to provide future growth catalysts. The company's stock has been trading above key moving averages, indicating sustained investor confidence in its ongoing performance and future prospects.
