Ironic — all I needed to do, to update my graphic of 15 months ago, now, was add one dollar to the target price — since way back on September 16, 2010, Jefferies started Merck at “Hold“, with a $39 price target.
I can’t resist pointing out that on just this past Friday, I noted that Merck’s NYSE price was approaching the post Schering-Plough apogee.
Coincidence? You decide.
Here is a bit of the latest Benzinga blurb — do go read it all:
. . . .Jefferies & Co. has downgraded Merck & Co. from Buy to Hold. . . .
So it goes. It is, afterall, Merck’s stock price that strikes the beat — in 3/4ths time.
UPDATED: Merck just announced that Kenneth C. Frazier, chairman and chief executive officer will present at the 30th Annual J.P. Morgan Healthcare Conference in San Francisco tomorrow (at 6:00 p.m. EST). Expect a re-tooling of his Goldman talk, of last week, i.e. “. . .Merck’s 2012 will be better than its 2011 was.”