Merck KGaA: AlphaValue upgrades from 'reduce' to 'add'

(CercleFinance.com) - Merck KGaA's third-quarter impetus is charging into 2021, AlphaValue said, upgrading the share directly to "add" from "reduce".


Fourth-quarter figures will probably fall back after the extraordinary third-quarter performance, the French research house said in a note to clients.

However, bearing in mind three-quarter results, AlphaValue expects greater profitability in the life science and performance materials businesses in the last quarter of the year.

The broker - which has a 143 euro target price for the stock - said it has also raised its earnings estimates for the coming year.

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