Merck KGaA
MRK: XETR (DEU)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
€484.00 | Ksmnk | Qvqbpknc |
Merck KGaA Earnings: New Drug Launches Help Offset Life Science Reset
Narrow-moat Merck KGaA delivered solid first-quarter results, and its 2023 guidance looks in line with our expectations. To reflect cash flow generated in recent quarters, a slight increase in our long-term margin outlook for the firm, and currency movements since our last valuation change, we moderately raise our fair value estimate (EUR 171/$38 from EUR 158/$33). Shares still trade near fair value after these changes.