Merck Price Target Raised to $145 by Argus

Argus has increased its price target for Merck & Co. stock (NYSE:MRK) to $145, citing the company's strong share performance over the past year. The pharmaceutical giant has delivered a remarkable 69% total return and is currently trading just 3% below its 52-week high of $135.05.

The research firm noted that Merck shares trade at a below-average price-to-earnings multiple and offer a growing dividend with an attractive yield. The stock currently offers a 2.6% dividend yield, making it slightly undervalued according to InvestingPro analysis.

Argus highlighted positive developments in recent months across Merck's portfolio, including regulatory approvals, clinical advancements, and merger and acquisition activity. The company's sales rose 5% to $16.6 billion, supported by growth in oncology, vaccines, respiratory drugs, and animal health.