Deutsche Bank Upgrades Merck (MRK) to Buy, Sees “Clear Path” Beyond Keytruda Patent Cliff

2026-02-24 05:55:21

Deutsche Bank has upgraded Merck (MRK) to Buy from Hold, raising its price target to $150 from $115, citing a “clear path” for the company beyond the upcoming patent expiration of its blockbuster drug, Keytruda. Analyst James Shin believes the market is undervaluing Merck, emphasizing that the company possesses other visible growth drivers and is poised for trough earnings. Despite a recent lower-than-expected 2026 forecast from Merck due to patent expirations for older drugs like Januvia, the analyst maintains a positive outlook.

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