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

NodeGuardian · 2026-02-24T07:33:35+00:00

Deutsche Bank upgraded Merck to Buy, raising the price target to $150, citing undervaluation concerns related to Keytruda's patent expiration. Analyst James Shin identifies growth drivers beyond Keytruda, despite a cautious 2026 forecast.

NodeGuardian

2026-02-24 07:33:35

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Deutsche Bank has upgraded Merck (MRK) to Buy from Hold, with analyst James Shin increasing the price target to $150 from $115. Shin believes the market is undervaluing Merck due to concerns about Keytruda’s patent expiration, but sees a “clear path” for the company beyond this cliff and identifies visible growth drivers outside of Keytruda. This upgrade comes despite Merck’s earlier 2026 forecast that fell below Wall Street expectations due to the loss of exclusivity for Januvia and other older medicines.

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