Drug Pipeline Targeting High Growth Markets May Boost Merck Prospects (MRK, C)

John Boris, an analyst at Citigroup (NYSE: C) has increased the price target of pharma major Merck (NYSE: MRK) from $38 to $45. The scrip has been rated as Buy/Medium Risk.

The analyst believes that Merck is more diversified with larger exposure to non U.S. markets. Merck’s pipeline in high growth therapeutic areas like diabetes, cardiovascular, vaccines, oncology and biologics shows abundant promise. The company’s recent acquisition is expected to bring about $3.5 billion in synergies.