Stocks
HSBC Boosts Price Target for Merck to $172
HSBC has raised its price target for Merck to $172 from $150. This change is based on the firm's Smart Score performance, which is a backtested results-based model.
The Smart Score model assumes that XYZ firm would have been able to purchase the securities recommended by the model and that markets were sufficiently liquid to permit all trading.
No cash balance or cash flow is included in the calculation of the Smart Score performance, and actual performance may differ significantly from backtested performance.