Merck KGaA

MRK: XETR (DEU)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€648.00	Cjjjl	Yfjyxpjg

Merck KGaA Earnings: Weak Life Science and Electronics Segments Cut Into 2023 Outlook

Julie Utterback

Aug 3, 2023

Narrow-moat Merck KGaA delivered weak second-quarter results, and with these trends, management reduced its 2023 outlook. Mild tinkering with our near-term expectations does not materially affect our fair value estimates for the firm (EUR 171/$38), though, and shares continue to trade near fair value, in our opinion.

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