Daiwa Upgrades Merck to Outperform Citing Pipeline Success

Daiwa Securities has upgraded its rating on Merck to Outperform from Neutral, citing the pharmaceutical company's successful pipeline of new products.

The upgrade is based on backtested results, which show that the strategy would have generated significant returns if it had been implemented historically.

Merck's pipeline success is seen as a key driver of the upgrade, with Daiwa noting that the company has a number of promising new treatments in various stages of development.