So JP Morgan has moved Merck’s 12 month stock price target up to. . . where JP Morgan had it in January of 2010 (per a PDF transcript of the 2010 JP Morgan Healthcare conference) — from $42 to $44. Yawn. This isn’t really any news at all, but it is courtesy of Benzinga:
. . . .We are increasing our MRK sales and EPS estimates following strong 1Q/11 results. Our new estimates are toward the high end of the company’s 2011 guidance range. We are raising our PT by $2 to $44.
J.P. Morgan maintains Overweight on Merck. . . .
Uh-huh, Sure it does — it also has more than ample reason to curry favor, as I’ve repeatedly pointed out in the past.