I think, at the same moment an anonymous commenter posted this, I must have been reading it, as well. Perhaps the worst of it for CEO Hassan, Cox, and the Top Six in Kenilworth is that Merrill pegs the Schering-Plough price target at $18. Ouch.
This, from a firm whose new-parent-to-be (Banc of America) bought (and hawked to its clients — see prospectus page, below) over $800 million of Schering-Plough equity securities just a year ago now, at $27.50. This is truly a slice of humble pie, being served:
. . . .LONDON (MarketWatch) — Merrill Lynch cut its rating on Schering-Plough to underperform from neutral and lowered its price target to $18 from $22, saying it expects the efficacy and safety controversies around Vytorin®/Zetia® to continue. In addition, the broker told clients that the drugmaker has the greatest currency risk of U.S. peers. . . .