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Merck Downgraded to “Neutral” at Bank of America/Merrill Lynch; Valuation Call (MRK)

By Dividend.com,  August 24, 2012, 08:55:21 AM EDT

Pharmaceuticals maker Merck & Co., Inc. ( MRK ) on Friday caught a big downgrade from analysts at Bank of America/Merrill Lynch.

The firm cut its rating on MRK from "Buy" to "Neutral" with a $45 price target, suggesting a small upside to the stock's Thursday closing price of $42.80. Bank of America/Merrill Lynch noted the move was a valuation call, since the stock has risen 14% since the beginning of 2012.

Merck shares fell 29 cents, or -0.7%, in premarket trading Friday.

The Bottom Line
Shares of Merck & Co. ( MRK ) have a 3.93% dividend yield, based on last night's closing stock price of $42.80. The stock has technical support in the $39-$40 price area. If the shares can firm up, we see overhead resistance around the $44-$47 price levels.

Merck & Co., Inc. ( MRK ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: MRK



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