Pharma giant Merck & Co., Inc. (
) saw its rating cut on Wednesday by analysts at Goldman Sachs.
The firm downgraded MRK to "Neutral" from "Buy," and removed the
stock from its prestigious "Conviction Buy" List. Goldman noted
that the company lacks meaningful near-term catalysts, but
maintained its $42 price target on the stock.
Merck shares, which had closed at $35.81 on Tuesday, fell 67
cents, or -1.9%, in premarket trading Wednesday.
The Bottom Line
We have been recommending shares of MRK since Dec.1 when the stock
was trading at $36.21. The company has a 4.24% dividend yield,
based on last night's closing stock price of $35.81.
Merck & Co., Inc. (
) is a "recommended" dividend stock, holding a Dividend.com DARS™
Rating of 3.5 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